Hovering over a hyperlink in the "new" outlook doesn't display the actual URL. How can this be remedied.

Just tried that and it didnt work for me, hovering still does not show the URL preview

I concur, it did not fix it for me.

And even if it had, it's not a viable solution to deploy to all my users across our organization as it requires elevated credentials. And how often would we have to rerun this 'repair' to keep this feature active?

Bah. I don't know why I continue to be astonished by MS' decisions.

Is this fixing it so that it shows the URL when you hover? Or is it showing an actual preview of the page that the URL points to?

I do not want a preview of the link, I don't want the link being requested at all unless it's specifically clicked on. I just want to see the URL.

We don't want to preview links. Seeing a picture of what the destination site looks like doesn't remotely solve the security issue of not knowing what the actual URL is. Scammers have gotten really good at making websites that look like official Microsoft Sites, Banking Sites, Retailer Sites.
I know that if I go to www.bankofmychoice.ca/myaccount I'm safe but if I go to www.bankofmychoice.america.co/myaccount that I'm going to an unsafe site. This shouldn't be a difficult concept and I'm alarmed that people at microsoft aren't alarmed by this and haven't done a day 1 fix.

Hey. Yes, it shows the URL when I hover just like in old Outlook.