Outlook for Mac 2019 crashing at startup, version 16.53, EXC_BAD_ACCESS

Since yesterday I have been trying to start up Outlook on Dock, but the app does not run. The following exception shows up:

Microsoft Error Reporting log version: 2.0

Error Signature:

Exception: EXC_BAD_ACCESS

ExceptionEnumString: 1

Exception Code: KERN_INVALID_ADDRESS (0x0000000000000000)

Date/Time: 2021-08-10 17:04:07 +0000

Application Name: Microsoft Outlook

Application Bundle ID: com.microsoft.Outlook

Application Signature: OPIM

Application Bitness: x64

Application Version: 16.53.0.21080803

Crashed Module Name: libsystem_platform.dylib

Crashed Module Version: unknown version

Crashed Module Offset: 0x0000000000001552

Blame Module Name: OutlookCore

Blame Module Version: 16.53.21080803

UnsymbolicatedChecksum: 3E1882C682E1A7F13EB315AB7265D110

Blame Module Offset: 0x0000000000015425

StackHash: 2f91b637e005f18b-dm_1_main_bt

Application LCID: 1046

Extra app info: Reg=en Loc=0x0416

Build Type: Release

Crashed thread Stack Pointer: 0x_00007ffee0eb0e70

Crashed thread: 0

I have restarted my laptop plenty of times, my iOS is up to date (Big Sur 11.5.1) and all my Office apps are also updated. Any ideas on how I can get Outlook to run again?

I am able to access my account on Outlook online, but not using the app on Dock.

Thanks.