Using classic Outlook for Windows in business environments
It does work if you follow the steps correctly. I've done it on PCs running Windows 10 and Office 2003 and on PCs running the latest update to Windows 11 running Office 2019.
With Outlook open, click on send/receive. A pop-up window tells you the username/password isn't valid. Open you browser and log into to your Google account and follow the steps listed to allow 2 step authentication and generate a PW. Copy and paste that PW over your old Outlook PW and you should start receiving your emails. You won't see that pop-up about the invalid username/password again.