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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:Trystan Trenberth commented
It's rediculous that you offer the "Office Suite" on Mac and don't support integration with half the features - Prejudice or stupidity and lack of foresight?
The previous release of Office was a disgrace, and you follow up with a better GUI but the critical features missing from the implementation.
Heads should roll!!
5,199 votesTrystan Trenberth commented
It's imperative that if you allow icloud contacts to be available inside outlook.
I exclusively keep my contacts in icloud in a centralised location, along with my calendars and don't intend to switch