I've done some Excel "graphics printing" like this, but not to such
precision, maybe 0.02 . I have found two things.

1- The Excel inch is not necessarily the same length as a printer
inch. There will be a scale factor to apply. I always determine
experimentally by printing  something in Excel scale then measuring the
print and calculating the scale factor.

2- That the X and Y scales don't always have the same correction
factor. i.e. printer X and Y resolutions aren't always the same.

3- Any paper feed variation can mess this up also.

The Mac & printers used to do a pretty good job, but I haven't
checked in a while.
Some of this kind of knowledgs seems to decay with younger
generations of engineers. I'm one, but an older, smarter one

1/600 DPI = .0016666... IPD