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Hi!
Is it possible to make a flow that will set a Excel Workbook to open as read-only (protected)?
I have not tried this, but I have the following bookmarked in case I need to do what you need to do: Power Automate and SharePoint Permissions - Power Platform Community (microsoft.com)
I think this should work for you. Another option you can look into is writing an Office Script for Excel to lock it, which I don't know if it is possible, but I found a post on the topic: Office Scripts - Workbook & worksheet protection - Excel Off The Grid. If you can create the script, you can run it from Power Automate.