Hi @gauravsolanke ,
As per my understanding,Launching a specific OneDrive Excel file directly within Power Automate Desktop (PAD) isn't possible due to limitations in how PAD handles file paths.
You can achieve this functionality with a few workarounds:
1.Sync the OneDrive folder containing your Excel file to your local machine and creating the flow as below shown in image.

2. This approach involves combining PAD with Power Automate Cloud Flows. The Cloud Flow would handle downloading the file from OneDrive and storing it temporarily. Then, PAD would be triggered to launch the downloaded Excel file using the local path.
(Note:- if you got your solution you can mark as solution and gives kudos)
Thanks & Regards
Vishnu Reddy