On my 20H2 machine, all Hotmail emailbox on Mail app run fine after installed kb4580980, the Mail app version is 16005.13318.41018.0.
So you could use Windows Update Assistant to upgrade current system to 20H2 then test result.
Specific steps:
- Roll back to previous version, let All email accounts reappear.
- Upgrade by Windows update assistant
- Check email accounts state in Mail app.
- Check updates in Settings
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