Managing personal Outlook.com account settings, security, and privacy
No, the location isn't accurate. It's mostly likely a group of hackers who control a bot farm and are performing brute force attacks on any email/passwords found in any data breaches. They are most likely doing it via a VPN, so the bots bounce their location around to any available VPN servers located in different countries.
There is a good way to fix this issue:
https://www.outlook-tips.net/tips/keeping-hackers-microsoft-accounts/
Add a new alias, set it as primary then remove sign in permission from the current address
Add an alias here - https://account.live.com/names/manage Don't remove the current address, if you do, it is gone forever. You just want to add a new alias and set it as primary.
Change sign in preferences using the link at the bottom of that page - https://account.live.com/SignInPreferences. Only check off the new alias you just created. When you sign in, you need to use the new alias. do not use the alias anywhere else.
my sign in was ******@email.com
I simply made an alias of ******@email.com and only added a period, removed sign in permission from the original email, and it has stopped all attempts because it is different from the email address the hackers have for you.