Yes. Apple uses quick view by default when showing files in Mail. Works fine for PDF and a few other formats. It's readable but poorly formated for most .docx files.
After it opens in quick view you should see the usual share icon at the top right. Tap it and look for Word. If you don't see it swipe the app list left until you see the More icon, three dots. This should show most of your apps, at least the ones that can be used to open files. Alternatively you can use the share sheet to save the document to Files, then open Word to browse and open it. If you've added your OneDrive account to Files, that's the easiest way to get to it once in Word.
You can also long press on the document icon (or thumbnail) in Mail and choose Share from the pop-up menu. The rest is the same.
Sometimes, for reasons that escape me, I'll need to do this twice to open a document in Word. Also, the Office documents don't really copy the file over this way. You'll have to save the file before it becomes editable. Word will prompt you to do this.
I wasn't sure what screen size the Office Apps were still free for, so I played it safe with the Mini and iPhone.
Note: When viewing More apps in the Share Sheet, you can choose Edit, then move apps you'd like to see more often to favorites. This helps insure that compatible apps can be found when you use the Share Sheet. It's not a guarantee though. If iPadOS does not think the app is compatible with the file, it won't show it in Favorites. It's mostly up to the developer to make sure their app is registered as compatible with various app types, so it should be a problem with Microsoft and their formats.
