You can certainly do either with Outlook 2019 i.e. with only Outlook instance. I have four accounts here and have them configured to use 2 PST files with POP access to the server. I can't imagine they have changed it for Office 365.
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Graham Mayor - MS MVP (Word) (2002-2019)
Visit my web site for more programming tips and ready made processes www.gmayor.com
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