raycpa,
You're very welcome. We understand that the birthday changes when you view it in Contacts or Calendars on your Mac, and if we understand correctly, it's only occurring with content that you are syncing from your Office 365 account.
If you haven't already, you might test by adding a birthday to an iCloud Contact to see if it also adjusts by a day. If it does, you'll know the issue is with your Mac. If it doesn't, and it only shifts with content you have set to sync from Office 365, we know that the issue is with syncing between your Microsoft account and your macOS software. Microsoft will be the best team to help you troubleshoot content syncing from their service.
We were able to locate this response from a Microsoft Agent with instructions for resetting Outlook syncing preferences.
Calendar sync - birthdays are all off by one day - Microsoft Community
Another response from a Microsoft Agent suggests reaching out to their dedicated Outlook 2016 for Mac support.
Outlook help & learning - Microsoft Support
Best Wishes.