What you see with Find My is the last known location. I am not familiar with what Microsoft offers.
Read this document for how to use the Find My app to locate a missing device or item --> Use the Find My app to locate a missing device or item - Apple Support
The chances of locating a device depend upon which features you selected in:
Set up Find My on your iPhone, Mac, and other devices - Set up Find My on your iPhone, iPad, iPod touch, or Mac - Apple Support
Use Lost Mode in Find My iPhone on iCloud.com - Use Lost Mode in Find Devices on iCloud.com - Apple Support
and:
Use the Find My app to locate a missing device or item - Use the Find My app to locate a missing device or item - Apple Support
"What happens if you activate Mark As Lost
Mark as Lost remotely locks your missing iPhone, iPad, iPod touch, or Mac with a passcode, keeping your information secure even if your device goes missing. You can also display a custom message with your phone number on the Lock screen, and keep track of your device's location.
Once Mark as Lost is activated, Apple Pay is disabled, if you have it set up on the device. A confirmation email is sent to the primary email address associated with your Apple ID. When you recover your device, you will need to unlock it with your passcode."
Have you tried calling the phone? Just be cautious about giving out information to anybody who answers, in case somebody is trying to get information about how to get into the phone. We have a friend who recently misplaced a phone and the finder mailed it back to her after she called it. You can also arrange for it to display a message for a finder.
This document has a list of things to do if your iPhone, iPad, or iPod touch is lost or stolen. --> If your iPhone, iPad, or iPod touch is lost or stolen - Apple Support