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Just to update the forum, James and I are working on this as a tech support case. It looks like this library is part of the PI DataLink Legacy installation, so one option is to install DataLink and enable the Legacy add-in, but another could be to remove this library from the references list and see if anything in the VBA breaks. I don't believe it was intended to be used in ProcessBook, so I wouldn't be surprised if nothing is actually using it, unless if the VBA project were originally written for Excel and were exported/imported into ProcessBook.
I'll update the post when we have a final answer, but if anyone else has thoughts on this in the meantime, you're welcome to still post.
I am delighted to report the option to simply remove the library from the references worked. However, I did encounter some error popups until I completely exited ProcessBook after removing the library, and then restarting ProcessBook.
I consider the issue resolved. ¡Muchas Gracias!