Hi, I am having the same problem and your answer is not addressing the actual issue. When I click on the settings button at the top right of my new outlook app, it shows me these options: "Accounts", "General", "Mail", "Calendar", and "People". There is no "Email".
If I click on "Mail", there is no "Forwarding" option to click on. All instructions online are telling me to go to Email > Forwarding but there is no Email tab in the first place, and the closest thing, Mail, simply DOES NOT HAVE a Forwarding tab to click on. As the original asker said, there is literally not an option to do this. I am on new teams, I restarted the app, I cannot figure out what you are talking about. There is no Email tab in settings and there is no Forwarding tab under ANY of the existing tabs. It DOES NOT EXIST. I tried to attach a picture but it won't let me.