The Applescript menu has been discontinued for Office 2016. Use the Smiley button to send a frown to Microsoft and explain why this is not good for you.
Why?
Last time I checked Mac users of office were increasing and an "important part of Microsoft's growth plans".
Is it simply arrogance i.e. "we've included all functions any user could possibly want" mentality?
The emoticon I'd like send MS is brown and has steam rising from it.
I believe that the way they implemented sandboxing was incompatible.
There are other ways of course, but it looks like it wasn't very high on their priority list.
If it is an important feature for you (and I suspect it is), I would also strongly encourage you to use the Send a Smile button on the top right corner of the main window in Outlook to let MS know, and help them prioritize future development.
You can also use service https://outlook.uservoice.com/forums/293343-outlook-for-mac/ to search for the several threads on the same topic and vote there as well…
Corentin