Using the New Outlook for Mac for personal email and calendar
Hi! The New Outlook for Mac still doesn’t support the CalDAV/CardDAV standards that iCloud uses for calendars and contacts. That means even if mail works, an iCloud calendar won’t do true two-way sync in the Mac app. Microsoft’s own guidance confirms this limitation.
But you can subscribe to your iCloud calendar to Outlook on the web (Outlook Web Access), and once you do that, the subscribed iCloud calendar automatically syncs with Outlook for Mac.