Yes, Microsoft Office is available as a bought one-time product and as a subscription-based product.
Microsoft promotes the Office 365 product more heavily. You pay an amount per month to use, which mostly runs from the cloud.
With Office 365 it is constantly updating so you are using the latest product. Windows 10 runs on the same type model.
Microsoft continues to sell Office as a standalone product, which is called Office 2016 or Office 2019. Many people like either approach; however many like this more traditional approach as it is a one-time fee and not needing to get connected to the Internet to do some stuff.
It appears currently that although Microsoft includes more products with Office 365 some features are not included in some products that are in Office 2016 and 20919. Either way you get at least Word, Excel and PowerPoint and then other items may or may not be included like Access, Publisher, etc.
If you want the stand-alone version the most common edition of it is Home and Student and it is available at a number of online sites. They do not sell you the CD/DVD anymore, but they give you an Internet address and a product key (used to be called a CD key) and you download from the link address they give you and then you install and supply the key and it then works for you.