It just doesn't work with the new Outlook, as it presumably is a different app. Nothing we can do about it, we just need to wait for MS to update PAD to work with the New Outlook. You might as well report it to their support.
For now, you can also use the Exchange Server actions to work with Exchange-based mailboxes instead of automating the Outlook app. Also, if you have a Premium license of Power Automate, you can also use the Office 365 Outlook actions.
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