Additional features, settings, or issues not covered by specific Microsoft Teams categories
Maybe this will help someone. But it is a rare scenario
My manager has sent a calendar appointment with "Out of Office". I accepted the invite because of this my team's status was showing "Available, Out of office".
Just remove the entire series from your calendar.
Totally frustrated but figured out the issue was because of my manager appointment.
You don't need to remove it from your calendar, just change it to "Available" and when you save the appointment it only changes that status for you, not for everyone else.