When new Outlook was first released and the toggle button showed up, I was able to get it to launch. I don't recall what all I had to do at that time as I thought it all just revolved around AppLocker which didn't change. It would only run for one session though, so I figured I would need to add some things to the profile container / roaming profile and that would be it. Then I let it sit for several months and it doesn't seem to be the same process.
I agree that it is probably like Teams, which I also can't get to function...I thought if I got one working, I could figure out the other one.