Shared calendar events converting to meeting invites?

I have two iPhones and share an Outlook calendar between them. My personal phone and my work phone. When I set this up over a year ago, I sent an invite to my work email on my second phone and allowed that second user to edit calendar events. I use the apple calendar on both devices. For a year I've been able to add, edit or delete calendar events on either phone and they would sync with no issue. I updated my personal phone to iOS17 a month ago and was still able to share events between phones as usual. Last week I updated my work phone and since that day I have had issues.

If I create a calendar event on my work phone (the invitee device), after about 20 seconds, that calendar event converts to a meeting invite. However on my personal phone it remains a calendar event once synced. I cannot edit, delete or even decline the event. If I click decline I get a notification "Calendar Invitation, Your response to the invitation cannot be sent, OK". This has only become an issue since the day I updated my second device to iOS17.

I have un-shared the calendar and re-shared the calendar with permissions to edit. I have gone through calendar settings on both iPhones and on Outlook calendar. I see many persons having this issue since the update such as my self. Please Help.