Using Classic Outlook on Windows for personal email, calendar, and contact management
To avoid your email being marked as spam or your account being temporarily restricted, you should consider limiting your BCC field to about 50 recipients per message.
Although Outlook has a maximum technical limit of 500 recipients per message, putting too many recipients in BCC mimics spammer behavior and is likely to triggers automatic filtering.
More at https://support.microsoft.com/en-us/outlook/sending-limits-in-outlook-com
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hth
Marcin