Microsoft 365 features that help users manage their subscriptions, account settings, and billing information.
It does tend to point that way, but my money is on some deep and obscure infrastructure issue.
When I set a new user up in O365, it's literally a one minute job. You just assign what O365 services the user has (Exchange online etc.) and that's it. There is virtually nothing you can change config wise or would want to. I've looked for patterns in the way affected/unaffected accounts are setup and found absolutely nothing so far.
The only clear and verified pattern I have actually seen to this is the one I noted early on in this thread and fed back to Microsoft. i.e.
My AFFECTED accounts were all being accessed via IMAP at the time the fault materialised.
My WORKING accounts* had never been accessed with IMAP before, and were added to mail clients AFTER the fault materialised by way of testing.
*These were in fact some test accounts of mine, but they have been setup for years, and are identical in setup to all other user accounts.
I originally assumed that this was some glitch and if I could find a way of resetting the IMAP interface on an affected account, it would spring back into life. As an administrator, I can turn IMAP off/on for an individual user account - so I tried that on one of my affected accounts and it made no difference.