We need to define "safe".

Safe from coffee shop people or in a dorm, probably yes. If you lock your laptop with a good screensaver and have a decent PW, those people are not getting in anyway.

Plus with smart phones hardly anyone carries their laptop around these days.

But with what M/S is doing with Windows 11 "security" any ad company with $, lawyer with a warrant or alphabet soup agencies, can get a decent idea with what is going on even if they cannot get to see your data in Excel or Word.

But most M/S office data is now in the "cloud", so all bets are off for those files in many cases.