I am on android 12 and I am experiencing the exact same issue. I also share some of the comments below in respect of Microsoft's reaction not being acceptable for these days. Of course we have already tried updating apps, cache resets or re-installing. The "have you switched it off and on again?" IT support styla is good for TV comedy soap operas, but not in real life. I am a '365 subscriber for years now. I just switched my default android client from gmail to outlook, to give it a try. I think customers deserve better.
It's high time Microsoft addressed these very basic and very annoying glitches and give adult replies to the problems raised by the users community.
Kind regards.
D.