#BUSY errors are returned when a formula is waiting for a required resource that’s taking a long time to access. Possible reasons include:
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The formula is waiting for values from an external workbook link.
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The formula is waiting for resources needed to render the image.
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A function in the formula is still executing. It may be waiting for an external resource or it contains a complex calculation.
Python in Excel
If you're using Python in Excel, a #BUSY error may display while calculating a Python formula.
While Python in Excel is in preview, all Excel for Windows customers using the Beta Channel can add or edit Python formulas up to a limit. After exceeding the monthly limit, Python calculation speeds are reduced and #BUSY errors may display for customers that haven't enabled the Python in Excel preview. Enable the preview for access to faster calculations. For more information, see How to enable the Python in Excel preview.
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