MS OFFICE 365 MAC OUTLOOK HIGH CPU (post recent upgrade 15.22)

I have been using Office 365 for Mac, particularly Outlook with my University Exchange server for over 5 months...no problems. Last week there was a Office update pushed by MS which like in the past I obligingly installed. No problems with other Office apps BUT Outlook now is consuming (almost exactly when idling?) 100% of the CPU according to Activity Monitor and the according to TGPro the CPU cores are all running about 25-40 degrees C hotter.

Initially I tried deleting and recreating my profile, the test Outlook in system recovery mode, unistalled and reinstalled Office 365 for Mac myself, Mac Mail btw ran Outlook just fine but I prefer Outlook, along with several other items and then today mightily frustrated contacted MS support via chat. They did a clean uninstall and install. I got excited when I opened Outlook and it was running low BUT noticed it was not connected to the Exchange server (via my profile). Didn't remember this with prior install but ONLY for Outlook was I required to "Activate" the program (by logging into the MS Office 365 website) and Outlook was connected again... BUT AGAIN at 100% of CPU? Btw, this happened just prior to recent El Capitan upgrade.

RUNNING: MBP (Retina, 15", mid-2014)(11,3); 2.5 GHz i7; 16 GB 1600 MHz DDR3 |

8 months new, only 20% of 500GB SSD used