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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:rusia commented
for the love of God, pls, PLEASE(!), add icloud support for OL mac like there is for OL for iPhone. makes this app completely useless, IMHO.
1,834 votesrusia commented
what is the point of OL for mac if we cannot integrate/sync and read and write to iCloud cals? the OL for iphone app can do it. not to mention this creates all sorts of syncing between devices issues bc I can do something on the iphone that I cannot on the mac. ridiculous!