Like many others I have had PC at work and Mac at home (and university once upon a time!) ... the differences in functionality are stark and disappointing. We should be able to expect the same functionality for the Office Suite -- where the outcome is agnostic with regard to operating system! Please get with the program ... this has been a disappointment for too long...
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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:
Please add the option to add ical to outlook calendar with auto synchronize
Please, please, please prioritise the integration of iCloud with Outlook -- namely contacts and calendars. It has been *decades*, not merely years, that has been a source of consternation ... Like other Mac hardware users I don't intend switching but would appreciate the chance to take full advantage of the software from Microsoft - given we pay as much as any PC user but still lack the convenience and functionality that should be there.