Based on my research, you may meet these known issues after you install KB5036386, you could check it:https://support.microsoft.com/en-us/topic/description-of-security-update-12-for-exchange-server-2016-march-12-2024-kb5036386-60a770fb-88da-4e46-b51c-1448dd8f8d1d
KB5036386 is a security update for Microsoft Exchange Server. It is possible that this update has caused some changes to the calendar sharing settings. In this way, you could check:
- Check the calendar sharing settings in Exchange Server and make sure that external anonymous users are allowed to access the calendar.
- Check if the issue is specific to a particular user or calendar. If yes, try to recreate the calendar or user account.
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