What's up with MS Office? Keeps loading when I paste something.

Whenever I try to paste something that I copied from web, it takes forever to get pasted. My 8 year old PC computer instantly pastes stuff including images. But on this brand new Mac, it takes forever for things to get pasted and if the clipboard includes images too then it takes more time. And I'm talking about little stuff - like some text from a webpage which may include a couple of images, not something too gigantic that would hang a computer.

See attached screenshot. It keeps doing this and then finally after several minutes the thing gets pasted there. Its extremely annoying. Its Office 2016.

Something wrong with MS Office? With my Mac? How do I fix this?