I would use OSLC nowadays. (requires ProCloud Server subscription, but you can start with a Token)

Pro Cloud Server is the integration software in Sparx Systems Suite, that enables 1. Integration to External tools and 2. allows secure access to central repositories using https connections. Prolaborate is the web-based sharing, collaboration and reviewing solftware for Enterprise Architect to share EA models to wider non-EA, non-Technical stakeholders. this provides simplified, curated views over live EA models. this works in conjunction with Pro Cloud Server and can be availed as bundle with Pro Cloud Server.

Yes, definitly as long it is only for elements (incl. hierachy) you can even use CSV Import/Export for that purpose. The major challenge with generic import formats is that data quality is always tricky. A better idea than using Excel is to use tools as sharepoint as form and then import that. And of course have a look at EADocX.
You can also look at Excel interface in Prolaborate? This lets you tie an Excel like interface that lets you expose a part of yuor model as list , this allows you to minize these additional overheads. https://prolaborate.sparxsystems.com/resources/documentation/create-packages-and-elements-in-ea-models. you can also add the MDG based columns that can be added in the Excel (dynamically) based on what elements you intend to send for review / updates