The times on my calendar are off by an hour after daylight savings time. Outlook still has them at the correct time.
This is a bug that Apple has been aware of for many years. It happens to recurring appointments that cross over the change to daylight savings time. To fix the issue open the appointment series in outlook and change the starting date to a day after the change to daylight savings time. Then save and close the appointment series. The appointments will shortly be at the correct time on your phone.
iPhone 13 Pro