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Looks like your issue is more related to Graph, please kindly understand that the Outlook tag here we mainly focus on general issues about Outlook desktop client and knows very little about graph.
Based on my search, the 503 Service Unavailable means: The service is temporarily unavailable for maintenance or is overloaded. You may repeat the request after a delay, the length of which may be specified in a Retry-After header.
In addition, this article may be helpful to you: Microsoft Graph throttling guidance - Microsoft Graph | Microsoft Learn.
Hope this helps!
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