Here’s a workaround I use. It generates a VBS script and calls it from within your python script.
def set_password(excel_file_path, pw):
from pathlib import Path
excel_file_path = Path(excel_file_path)
vbs_script = \
f"""' Save with password required upon opening
Set excel_object = CreateObject("Excel.Application")
Set workbook = excel_object.Workbooks.Open("{excel_file_path}")
excel_object.DisplayAlerts = False
excel_object.Visible = False
workbook.SaveAs "{excel_file_path}",, "{pw}"
excel_object.Application.Quit
"""
# write
vbs_script_path = excel_file_path.parent.joinpath("set_pw.vbs")
with open(vbs_script_path, "w") as file:
file.write(vbs_script)
#execute
subprocess.call(['cscript.exe', str(vbs_script_path)])
# remove
vbs_script_path.unlink()
return None