So far as Word is concerned, an EPS file contains nothing more than an image.
In any event, Microsoft deprecated the Encapsulated PostScript (EPS) image filter as of the April 2017 Product Update, due to security vulnerabilities in EPS files that could be exploited via the EPS filter. The KB article
https://support.microsoft.com/en-us/help/2479871 contains more information and instructions to re-enable the filter, if necessary. Be warned, though, that re-enabling the filter exposes your system to the very vulnerability Microsoft is trying to protect it from. See also:
https://support.microsoft.com/en-us/...oft-office-365