Multiple Condition based on the multiple status

Hi All

I would like to ask for formula on how to get the status based on the multiple condition:

Low: Combination of medium/low severity (should not be > 3 medium severity, otherwise rating should be upgraded into Medium)
Medium: Combination of at least 1 high finding and medium/low findings
High: Combination of 2-3 high findings and medium/low findings
Very High: <2 very high or >4 high findings and high/medium/low findings
Catastrophic: >1 Catastrophic or >3 very high findings and high/medium/low findings

I have attached the sample and expected result.

Thank you in advance.

No, I'm using the latest version of excel but the function is limited since it is a company tool. Why?

Tried to use this formula but not working:
=IF(E3>=1,"Catastrophic",IF(D3>=3,"Catastrophic",IF(AND(D3<=2,C3>=4),"Very High",IF(C3<=3,"High",IF(AND(D3>0,B3>=1),"High",IF(OR(C3>0,B3>=3),"Medium","Low"))))))

Please help!

According to your status, try this in H3.

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