Microsoft 365 features that help users manage their subscriptions, account settings, and billing information.
Hello
You actually can continue to use an expired email address as alias/username to sign into your Microsoft account, because it is simply a username for your Microsoft account.
However, what matters is, you update your security info so that you can receive the 2FA verification code. To do that, go to https://account.live.com > Security > Manage how I sign in. Add another method here and choose Email a code option, this will allow you to add a different email address so that you can receive the 2FA code.
If you still want to update the alias/username itself, while it is not necessary, you can via Your info > Sign in preference. But it depends what type of email address you are adding. For example, you can NOT add an existing outlook.com/hotmail.com/live.com/msn.com address. You also cannot add a work/school account here. You can use "create new" to create a new outlook.com address, as long as the username is not already taken by others. But if you want to add a third party email, like gmail, yahoo, you need to make sure this email address is not already associated with another Microsoft account, if so, you need to remove it first. Let me know which scenario is yours so I can walk you through.