[SQL] Connection to SQL database failed because of an error in initializing provider

I am trying to connect to an internal SQL database which allows TLS 1.2 protocol only.

I am able to log-in to the database using the SQL Server Management studio.

I'd like to connect to that same database using Excel 2013 (for a more graphic report). I have read a lot on Excel having problems with TLS1.2 and the use of ODBC Driver instead since that is the only one which supports tls 1.2.

Sadly when entering the credentials and testing the connection we receive the following error:

TEST CONNECTION FAILED BECAUSE OF AN ERROR ININITIALIZING PROVIDER. UNSPECIFIED ERROR
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Does anybody have experience with using Excel to connect to SQL Server using TLS1.2? Am I doing something wrong? I'm using the Data link: Microsoft OLE DB Provider for ODBC drivers. The normal SQL way of adding things doesn't work either but I believe that's because TLS1.2 isn't supported there.

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