Macros missing when opening Excel file with PowerShell

The purpose of the PowerShell script I am trying to write is - Open an excel document and run a macro. (The macro is stored in the Personal Workbook file -personal.xlsb and it runs successfully)

The problem - When the excel file is opened via PowerShell code, it opens fine but when the macro is run by callingRun("NameOfMacro"), I get an error stating macro not found. I try to find the macro in the opened excel file and it does not appear in the macro list. This seems to be because thepersonal.xlsb file is not loading.

So I close the excel file, open it manually, but the macro is still missing. I then manually open thepersonal.xlsb file and notice that the macro exists however the macro still does not appear in the excel file or any other excel file I open thereafter.
After a frustrating hour trying to understand why is the personal.xlsb file stopped loading suddenly. I noticed another thing - if I kill theexcel.exe process that was started by the PowerShell code (via task manager window) and then open any excel document the macro is available!!

So I have narrowed down the issue to this - The macros are not available because thePersonal.xlsb is NOT opened/loaded WHEN I open excel file via PowerShell.

Does anyone have an idea why is this happening and what do I need to do to resolve this?

$excel = New-Object -comobject Excel.Application
$FilePath = "D:\DailyReport.xls"
$workbook = $excel.Workbooks.Open($FilePath)
$excel.Visible = $true
$worksheet = $workbook.worksheets.item(1)
$excel.Run("SelectDataFromReport")

Error I get when running the above code-

Exception calling "Run" with "31" argument(s): "Cannot run the macro 'SelectDataFromReport'. The macro may not be available in this workbook or all macro s may be disabled."
At line:18 char:11 + $excel.Run <<<< ("SelectDataFromReport") + CategoryInfo : NotSpecified: (:) [], MethodInvocationException + FullyQualifiedErrorId : DotNetMethodException

By the way, I use the 64 bit PowerShell console by default but I also tried running the code using 32 bit console but it didn't make a difference. In excel, I have added the location (D:\ drive)as a trusted location and i have allowed excel files to be opened by default in edit mode.