I just recieved some generic work related mail with word file attached that was requesting to Enable Editing in order to view its content. I'm not going to fall for it but it got me wondering. What could possibly happen to my PC if i enabled the editing there?
When you Enable Editing or Enable Content, you enable any macros embedded in the document to run.
An attacker can embed VBA (Visual Basic for Applications) macros in the document, which is really just a generic programming language. With it they can access information about your computer, access resources like the network, and get malicious code like a backdoor or an remote access agent to run. That code can use privilege escalation attacks to gain administrator access, if you weren't already running as an admin, and have full control over the computer.
So, good thing you didn't fall for it.
Note that newer versions of Word have bifurcated the format into .docx and .docm, where .docx files may not contain macros and .docm files may. This is to make it easier to treat a file as 'safe' as opposed to having every file be a potential macro carrier.