Today I received an email from Sophos related to my case in which they advised me to install the latest hotfix which was updated January 21st.
https://support.sophos.com/support/s/article/KB-000038477?language=en_US
The previous version of the hotfix didn't work.
According to their mail: "This should resolve the reported crashes."
Because I have to delete the global exception rule in Sophos Central which will cause new crashes of Outlook within our organization, does anyone want to try the new hotfix?
I reviewed the patch notes for this patch and I do not see anything with the new hotfix related to our Outlook issue.
So, need to maintain the exception until one of our Sophos tickets (it looks like between us we have at least three open) gets a better answer from Sophos.