This is because you didn't create an application access policy, according to the official doc: to use application permission for this API, tenant administrators must create an application access policy and grant it to a user to authorize the app configured in the policy to create online meetings on behalf of that user (with user ID specified in the request path).
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Update:
Also, if you are using the /me
endpoint to create a meeting, make sure you are logged in with your work account and not your personal account.
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