Probable Fix : Unable to send/receive email from outlook/hotmail

A probable fix that I could find was to manually set up the email using exchange server.
Go to set up new account, select Mail and then exchange.
Enter your email id, username (should be same as email id) and password. Note that for users who have 2FA enabled, you will need to generate and use special app password.

Once the setup is done, hopefully things should be smooth