Well, after hours of frustration yesterday, I was back at it today. And yes, I finally got it to work.
First, I went to my AOL.com account, and under my profile, hit Security and then Generate App Password. What is the password you will use to sign in. You just need to use it once.
I then went into the New Outlook, hit View, Add Account, and I went to Advanced Setup on the bottom.
If it takes you to Yahoo, try it again. Took me awhile to get to that Advanced Setup and then I disabled using the Show Recommended
settings or whatever it said there. I don't want to go back and look!
There, I entered the App Specific Password, and changed the incoming server from Yahoo. I changed it to: INCOMING MAIL SERVER: imap.aol.com Port setting should be 993 and SSL; the OUTGOING MAIL SERVER (which is what caused all my issues): smtp.verizon.net and the port is 465 and SSL. It then went to verify everything and it finally finally finally worked. Freaking hours and hours of frustration. I couldn't get my mail to update and then I figured out the SMTP server that I was told was wrong. (i used smtp.aol.com, which is what had been posted somewhere, but it's wrong. Who knew?)
But you must first go to your AOL account and generate an app specific password. I called my app, New Outlook AOL mail.