Use "copy data link" in Excel or Power BI desktop

Yes, but with basic authentication. Since Excel or Power BI will not accept a token from any other identity provider expect Azure AD.

Basic authentication is disabled by default, since it’s not recommended.

https://docs.ifs.com/techdocs/23r1/030_administration/010_security/005_security/030_authentication/#basic_authentication_as_a_last_resort

Basic Authentication has to be specifically enabled on the IFS Proxy.

https://docs.ifs.com/techdocs/23r1/070_remote_deploy/010_installing_fresh_system/200_installing_ifs_cloud/035_ifs_cloud_ifsinstaller/030_installation_parameters/#parameters_for_proxy