Using older versions of Outlook for Mac in business environments
I had the same problem for years. I'm on Mac but use PC as well.
Thanks be to the gods that I'm not the only one! Yep I've had the issue for years and years too but Microsoft I think see it as affecting so few a number of users that it seems to get ignored.
The only solution for me (on the Mac) was: Where possible move all contacts with birthdays or anniversaries into iCloud as that does not have the problem with sending back the correct data to calendar apps.
I never found a working solution for the PC.
It definitely seems to be a problem with Exchange / Office 365.
I've investigated time zone etc settings and all are correct.