Using Classic Outlook on Windows for personal email, calendar, and contact management
I was also getting this error.
Attempted to use the Microsoft Support and Recovery Tool, and was exited on a screen that said it didn't support this type of account.
Account is current and up to date
Additional info: After you close the screen shown in Anand's original post, you get this.
Jinky Fix - Opened outlook from the Start Menu as Administrator (Right click on application and choose Run as Administartor), application opened and ran perfectly. Note: There were a couple more clicks after choosing to run as administrator... I don't remember what they were, but the are common sense answers.
It Works - Closed application and re-opened it from my pinned shortcut and application runs perfectly. Fixed for now!
Jay