Hi Bob.
I understand that hyperlinks are not showing up as links in the new Outlook.
Please have a look at the following answers page and see if that helps:
https://answers.microsoft.com/en-us/outlook_com/forum/all/hyperlink-not-showing-up-in-new-outlook/87e8f904-9616-4368-977b-e2b739c17fb0#:~:text=Check%20your%20browser%20settings%3A%20If,%2Dups%22%20option%20is%20unchecked.