Hi @Neeraj Kashyap,
- Are you intended to set up a third-party email coexistence with Office 365? If this is the case, yes, it's possible and you can refer to the official document below for more details:
Plan for third-party email coexistence with Microsoft 365 or Office 365 and Azure Active Directory - I tried searching a lot but didn't find exact information about this query. Considering that this question is related to the feature in Rackspace Email, I'd suggest consulting the Rackspace support team as well for confirmation.
- I am afraid not. A staged migration is recommended when the source email system is Exchange Server 2003 or Exchange Server 2007. For your scenario, it's recommended to use IMAP migrations. See the article below for more information about how to decide a migration path to Exchange Online.
Decide on a migration path in Exchange Online
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