Steps to recreate the issue:
- Create an Excel file with password protection in a SharePoint location
- Create a Power Automate Desktop Flow
- Add Launch Excel step, choose to open a selected document.
- Provide File path under Document path.
- Turn on the Make Instance visible option.
- Provide Password under Advanced section.
- Also add a Close Excel step to make sure the flow is complete.
- Make updates to the file and observe the content in the excel instance launched by Power Automate Desktop
Note: This issue doesn't seem to occur when using an excel file without password protection. Adding some waits in the flow for few seconds ensures latest data is being pulled.
Update: The issue is intermittent and also occurs for files that are not password protected. There office pop-up with message stating "Server File Updated - A newer version is available" indicating the issue might also be cache related.