Using New Outlook on Windows for personal email, calendar, and contact management
Installing Outlook New has no effect on Outlook Classic, they will co-exist and run at the same time. No O365/M365 updates remove Classic Outlook, if you had it, it should still be there. Do you find OUTLOOK.EXE with the rest of the M365 apps Word.exe, Excel.exe, etc.) under this path?
C:\Program Files\Microsoft Office\root\Office16
Do you have both icons in your Start menu?
This support article may help:
You can't open classic Outlook on a new Windows PC - Microsoft Support