Hey,
Do you get any notable error messages in your suitecrm.log file?
It would be worth double checking that the Inbound settings are correct.
Microsoft note that, for IMAP, Office365 uses:
Mail Server Address: outlook.office365.com
Port: 993
(POP, IMAP, and SMTP settings for Outlook.com - Microsoft Support)
I’ve also found a thread on the forums wherein users discussed this previously:
One user mentioned that they were able to resolve this by enabling “legacy email authentication” in Azure.
Does any of the above help?