When I try to encode a HTML anchor link in CSV file cell it becomes corrupted and not readable by Excel.
Is there some sort of non-HTML solution or format to encode
A CSV file is simply text - it's up to the loading program how it chooses to interpret the text.
If Excel is complaining when you feed it "Link", "another cell" then try just having the raw URL and you might find Excel will automagically turn it into a link.
But in general Excel doesn't process HTML, so expecting it render HTML from a CSV file is asking too much.