[Note] This answer was summarized from the original thread on TechNet platform.
TechNet thread link
As I know, this is not a bug.
According to the official document, many factors can cause this issue.
Bases on your description, it recommends you use Click-to-run install.
Please note that user permissions to execute the Regsvr32.exe file is a minimum requirement for the Teams Meeting add-in to be installed on the computer.
If users do not see the Teams Meeting add-in, close Outlook and Teams, then restart the Teams client first, then sign into Teams, and then restart the Outlook client. Follow the specific order can also resolve this problem.
For more information about Teams Meeting add-in, you can refer to the following articles: https://learn.microsoft.com/en-us/microsoftteams/teams-add-in-for-outlook