New functionality has been added for Exchange* accounts: Contact Export.
Saving contacts to your device allows new calls and text messages to be linked with your existing Outlook contacts. You can also see their contact information in your device's Contacts app.
When Save Contacts is enabled, newly added contacts and edits made to your contacts in Outlook will be saved to the Contacts app on your device. However, edits made directly in your device's Contacts app will not be saved to Outlook. Note that we do not support adding/editing contacts from Outlook for Android for on prem exchange accounts so you will need to manage your contacts from a different Outlook client.
* hybrid modern authentication for on-premises mailboxes
If you'd like to remove these saved contacts, you can toggle this switch at any time and they will be removed from your address book.