Using Classic Outlook on Windows for personal email, calendar, and contact management
This only works when you are the inviter, so the creator of the recurrence. If you're the invitee, and the originator has changed or cancelled the meeting occurrence with the limitations this is about, there's no way of having it effect only the future occurrences. Hence when cancelled, if you accept that, the whole history is cancelled as well. To prevent that the only way is to not accept the cancellation and remove the future ones manually. Unfortunately, the occurrences in history will display 'Canceled' and a different color, and if the series had no end date set, you can keep deleting them manually forever!
Then, surprisingly, the desktop version has more functionality if you're the invitee. For canceled meetings, in the desktop version you can delete the occurrence or series, while in the web version you can only remove the series (I tried to see if there would be a follow-up question, but there wasn't and it just removed the series. Luckily it has an undo function.).
A pity, and annoyance, to have these differences, also in wording by the way (delete vs remove, event vs occurrence)!