An Microsoft 365 Outlook can still be the old Outlook. Its just that Microsoft prefers selling it as a subscription instead of a one time fee.
This page has screenshots of the new Outlook: https://www.microsoft.com/en-ca/microsoft-365/outlook/email-and-calendar-software-microsoft-outlook
While the old one looks more like this:
image.png
But as I said in https://forum.cloudron.io/post/86789 Outlook with ActiveSync does not really make for happy end users. ActiveSync is just not a protocol for desktop applications.