Additional features, settings, or issues not covered by specific Microsoft Teams categories
I found a new solution that has been working for me the past two weeks. YMMV but I wanted to share it here to see if it helps others:
Turn on Low Power Mode
I know that sounds obvious, but it worked and I haven't noticed any performance degradation with my high power apps (compilers, renderers, etc). I can now use MS Teams without my fans turning on and sounding like a jet engine. This solution includes when I am in video meetings using my camera/mic and even when I have more than one monitor hooked up.
To enable Low Power Mode, go to System Preferences -> Battery -> Power Adapter -> Low Power Mode
Tech Specs -
Device: MacBook Pro (16-inch, 2019)
macOS Version: 12.1 (Monterey)
Microsoft Teams Version: 1.4.00.29478
Hope this solution works for other folks as well