After many attempts, I managed to get my Hotmail account working in BBHub on my Samsung S22. It occasionally pops up with the "****@hotmail.com needs a new password" error message, but I just ignore this and it goes away. I think emails are occasionally delayed, then several pop in at once. I didn't do anything special to get it working, just persevered with the published process.
The problem started BEFORE I set up 2FA for Hotmail (I set 2FA up in response to the initial problem as one of the suggested fixes. It didn't make a difference).
The odd thing is that it works sporadically as mentioned - usually these things either work, or don't. I can't think of anything that would explain this but I'm cynical regarding Microsoft here - they have absolutely no incentive to fix the problem since it only drives more people into using the Outlook app instead (I installed the Outlook app as a temporary measure while I was trying to get Hub working. Outlook on Android is, by comparison, awful).