Hey there, LGLDSR73-6492
If Microsoft 365 isn't installed on your computer anymore, please can you sign into your account here: https://account.microsoft.com/services/microsoft365/details#billing
Once you have signed in, please click onto install. This will install Microsoft 365 onto your computer. If Microsoft 365 is already installed onto your computer, please open a Microsoft Office app such as Word, PowerPoint, Excel. When the app is open, please click onto account, on the bottom-left corner.

This will open a page showing account details and who the product is licenced to. Under product information, if it is not licenced, please sign into your Microsoft account that has the Microsoft 365 licence. Once you have done this, it will allow you to use the Microsoft 365 apps.
However, Outlook is left behind and cannot be uninstalled. I need to download MS-365 Personal which is going to include Outlook. What is going to happen with the existing Outlook on the system?
The existing Outlook will be replaced with the one in your subscription. However, if it is already installed, may just install the Office apps you don't have.
In terms of the Outlook data, the Outlook data is stored under program files with with your profile. This just holds information from your Outlook profile. You may need to sign back into the Outlook app for it to re-download your profile information and store offline copies of your email. I have found, when going through this, it hasn't removed anything.
(2) What I thought was interesting is that without my intervention the files / directories of OneDrive repopulated this system. OneDrive was pre-installed.
OneDrive is built into Windows. As soon as you sign into your Microsoft account on OneDrive, whether you have installed Microsoft 365 and activated or not, it will sync your OneDrive files onto your computer. You can sign into as many devices as you want with OneDrive and it will sync your files. With the Microsoft 365 subscription, you get the 1TB storage allocation for one Microsoft account.
Hope this information helps,
Nathan