The issue here proved to be that in Classic width and height settings had been applied to the images. In a Word output generated from Classic, if the width exceeded the page width the image was shrunk to fit. That does not happen in the new UI and whatever dimensions are applied will be used in Word.
Adobe will fix this in an update but meantime the solution is to not apply any dimensions if that is an option. Without any dimensions the image will fit the width both online and in Word. PDF has a Use Image Compression to Optimise Size setting.
The quickest way to remove the size settings is to click the Restore to Default icon that will appear in Properties when you select the image.
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