This integration won't allow you to do that. Python will not run locally, but instead on Microsoft's platform (likely Azure).
If you're just reading some simple data from Excel, there are several ways of accomplishing this already. For example, Pandas has read_excel() and there is also openpyxl. You could even use those tools to write the results back to Excel. Things get more complicated though if the Excel file is something more than just a simple list.