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Microsoft announces Python formulas in Excel... which have to get sent to the cloud
(techcommunity.microsoft.com)
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this post was submitted on 23 Aug 2023
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The bytecode is turned into native code before execution
That's not how it works. If that really was how it worked there'd be no point even having bytecode; you'd just straight up get the native code. Unless you're talking about JIT, but your wording seems to be implying that all the bytecode turns into native code at once.
I was referring to JIT but there are also other options like GraalVM for AOT compilation.