Go to the date and time you need to set up the meeting for. Click the time slot square.

The Meeting quick panel will pop up. Fill in your Meeting Name and invite attendees.

Attendees can be internal or external people. Please note that if you have not set up a meeting with an external user before, you will have to type in their entire email address.\
If it is an internal employee, then it will auto populate compatible options.

Attendees can be internal or external people. Please note that if you have not set up a meeting with an external user before, you will have to type in their entire email address.

If it is an internal employee, then it should auto populate some compatible options.

This setting button will pop up a new window where you can fine tune the suggested times options.

If you need to see the Scheduling Assistant or more options. Click "More Options".

In this new screen click "Scheduling Assistant"

Scheduling assistant only works with internal employees. Note that Sarah Shagena's schedule is filled with black. We can only see the availability of internal employees.

You can click and drag either side of the blue meeting time bar to increase or decrease the length of the meeting. You can even click the middle of the blue meeting bar and drag it to another day or time.

To return to the meeting settings, on the top bar, click "Event"

If you want this to be a Teams Video meeting, then make sure that the toggle for "Teams meeting" is on.

Scheduling a Teams Meeting in Microsoft Outlook