One alternative would be to identify an Object Model you can use for each type of file whose contents you want to search through. For Word documents, there's the
Microsoft Word Object Model which you can interact with from any Office app such as Excel. If you have Acrobat, it looks like there might be
something similar, although I haven't used it myself. But if you're talking about opening & closing dozens of different files in different apps in succession, and searching their contents... then whenever your user enters a search, he/she is in for a
lonnng wait - and meanwhile your user's computer will likely grind to a halt.
Up at the OS level, Windows spends a lot of its "down time" indexing files in the background, so that when you search for something from the Start menu, it doesn't take an eternity even to just iterate over file metadata. (Stop hogging my **** CPU, Microsoft Windows Search Indexer!) You might be able to find an API to interact with Windows Search from VBA. But I have to imagine that's not gonna offer the level of detail you're looking for (i.e. a specific content location within a specific file).
Between "prohibitively slow" and "not detailed enough": in the big picture I think you're ultimately looking to solve the wrong problem here. You mentioned these are "policy" documents. IMHO what you really need is some sort of structure for the data in these documents. If this is for a company: can you use Microsoft SharePoint (or a similar product) to manage them? "
SharePoint is primarily sold as a document management and storage system, although it is also used for sharing information through an intranet, implementing internal applications, and for implementing business processes". Features include "tooling and compliance for document and record management, word automation services, and content management" and "search results, search customization, mobile search, 'Did you mean?', OS search integration, Faceted Search, and metadata/relevancy/date/location-based refinement options". An enterprise solution tailored to the underlying business need will inevitably be a lot more sustainable & scalable, vs. any ad-hoc solution (no matter how brilliant) you can code up in Excel VBA.