Sync contacts/calendar from Outlook in iTunes (Windows 10) will be deprecated?!

For more than 10 years I have been using iTunes (currently Windows 10) to sync Outlook 365 Calendar/Contacts with my iPhone calendar/contacts -- through an USB cable connecting PC <=> iPhone.

I received the following scary message in iTunes: "Support for syncing contacts and calendars has been deprecated and will be removed in a future version of iTunes."

This will be a disaster for a huge number of users that sync Outlook contacts/calendars with iOS, using iTunes on Windows 10. I do not want to use cloud services as a sync option due to privacy concerns.

Is Apple going to leave all of us in serious trouble by deactivating iTunes contacts/calendars with outlook on Windows?