Hi Nishanth,
Yes it is an ongoing issue for some Emails sent from certain mail clients.
https://www.reddit.com/r/Outlook/comments/1cyeady/links_within_emails_not_working/
Could you click Help > Contact Support to ask the New Outlook Team if they are tracking this bug?
Standard 3rd party link disclaimer:
There may be links to non-Microsoft websites that provide accurate and safe information. Watch out for ads on websites frequently classified as PUP (Potentially Unwanted Products). There is no need to buy paid products to fix your computers, as they sometimes do more harm than good.