You can delete the logs at any time. (Probably want to close Outlook first to avoid any possible problems).
There are a couple of Registry values that control detailed logging. You might want to inspect/modify. (NN = Your Outlook Version. Probably 16). Restart Outlook after any changes.
https://learn.microsoft.com/en-us/outlook/troubleshoot/performance/enable-transport-logging
- HKEY_CURRENT_USER\Software\Microsoft\Office\NN.0\Outlook\Options\Mail
- DWORD: EnableLogging
- Values: 1 = logging enabled, 0 = logging disabled
- HKEY_CURRENT_USER\Software\Microsoft\Office\NN.0\Common\Debug
- DWORD: TCOTrace
- Delete
- HKEY_CURRENT_USER\Software\Policies\Microsoft\Office\NN.0\Outlook\Options\Shutdown
- DWORD: FastShutdownBehavior
- Value: 2 {Default = 0}