Policy
Block all internet macros (ignore trusted locations or publishers)
This policy setting removes the trusted location and trusted publisher exceptions for files downloaded from the internet with Mark of the Web (MOTW). By default, Office blocks macros from the internet but allows exceptions for files that are either in trusted locations or signed by trusted publishers. If you enable this policy setting, all macros in files downloaded from the internet will be blocked, including those in trusted locations or signed by trusted publishers. This provides maximum protection against internet-based macro threats. If you disable or don't configure this policy setting, the default behavior applies where macros from the internet are blocked except when the file is in a trusted location or signed by a trusted publisher.
f792a1c311fd L_BlockMOTWMacroInTrustedOrSigned Registry
Copy registry mappings
HKCU\software\policies\microsoft\office\16.0\common\security\blockmotwmacrointrustedorsigned (enabled) = 1
HKCU\software\policies\microsoft\office\16.0\common\security\blockmotwmacrointrustedorsigned (disabled) = 0 Policy notes
This policy setting removes the trusted location and trusted publisher exceptions for files downloaded from the internet with Mark of the Web (MOTW). By default, Office blocks macros from the internet but allows exceptions for files that are either in trusted locations or signed by trusted publishers. If you enable this policy setting, all macros in files downloaded from the internet will be blocked, including those in trusted locations or signed by trusted publishers. This provides maximum protection against internet-based macro threats. If you disable or don't configure this policy setting, the default behavior applies where macros from the internet are blocked except when the file is in a trusted location or signed by a trusted publisher.