I'm not sure where your error comes from, the expression evaluated without an error when I tried it. It did return, what I think, is the wrong answer though.
I simplified it to this...
="Agent Report " & vbcrlf & "for: "
& MonthName(Month(DateAdd("M" ,-1,Today.Date)))
& " - "
& IIF(Today.Month = 1, Today.Year - 1, Today.Year)
This returned
Agent Report
for: December 2020
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