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One alternative is to subscribe to iCloud calendar with your Exchange/O365 email accounts or any Outlook account, and then sync the same accounts in Outlook for Mac. See details:
An error occurred while saving the commentDave commented
What the actual flip! Windows Outlook user for about 20 years and trying to move wholesale to Mac so I don't have to run a VM just for email. This is a glaring omission not to pull the host calendars. It doesn't make me want to move back to MS, just shows me how inept they can be at times.. MS keep showing signs of actually being able to do things right and then you see something like this or trying to sign in to MS developer accounts and being sent around in circles and all I can see in my mind is Steve Ballmer dancing like a demented goon. Please MS, sort it out, you're almost there, just nudge it over the line and I might start to respect your company for a change.