I am having this same issue. My schedule is correct in Outlook and the Teams add-in is installed, but my schedule in Teams still shows the default 8-5. Is there an update to this issue?
I was able to get it to work however I had to go into the web Outlook. It takes a while to replicate through the systems depending on your organization's infrastructure but it now shows my correct work hours that I set.
- Login and open web Outlook (I usually go through office.com then click Outlook)
- Go to the full calendar view
- Click the settings gear
- Click Work hours and location
- Set the days and hours
- Save
- Restart Outlook and Teams desktop apps. Fully quit, don't just close.
Once again, it may take over an hour to pick up in Teams but that what I did and it worked for me. I recommend making sure your Outlook desktop app is set to the same hours, especially if you use more than one computer.
FYI, I use both Windows and Mac and it reflects the change on both.