A cloud-based service included in Microsoft 365, delivering scalable messaging and collaboration features with simplified management and automatic updates.
There should be no imapct to your current version.
According to this official document: UPDATE: Exchange Online deprecating Basic Authentication (Basic Auth)
Please note this change does not affect Outlook for Windows or Mac if they are already configured to use Modern Auth.
Enable or disable modern authentication for Outlook in Exchange Online
And you could also refer to the links below to learn more information:
New minimum Outlook for Windows version requirements for Microsoft 365
How modern authentication works for Office 2013, Office 2016, and Office 2019 client apps
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