Outlook "My Computer" Folders

Good Morning,

So, for the last 20 years I've used "My Computer Folders" in Outlook for Mac. Never had an issue.

A few days ago something popped up and asked me if I wanted to use the "New Outlook", and then there was a notification that said "My Computer Folders" won't migrate.

Well, I NEED to save emails on my computer for my kids, for my work, I cannot have emails on someone else's server or on some cloud drive.

Is there a way around this? Does the Apple Mail still allows folders saved in My Computer, and is there a way to import .OLM files into it? When I export out of Outlook I have no choices as to other formats.

Help please. I am sure this will become "default", this New Outlook, and it will cause insane issues here.

Thank you.