Hi SAWilson,
Thank you for posting, I am here to help. May i know if your MAC is personal, work or school device?
OUTLOOK version Version 16.83 (Build 24031120) for MAC:
Contact lists are now available in the People module. You can create contact lists and address your lists in emails. Note that this feature is being rolled out gradually and may not be immediately available.
Future potential: While there's no official confirmation from Microsoft, there's been speculation that support for creating and managing contact lists within the "New Outlook" for Mac might be added in future updates. Keep an eye out for any announcements or feature changes or " leave a feed back for Microsoft here
https://support.microsoft.com/en-us/office/how-do-i-give-feedback-on-microsoft-365-2b102d44-b43f-4dd2-9ff4-23cf144cfb11#platform=macos
For more details you can check this article:
Release notes for Office for Mac
https://learn.microsoft.com/en-us/officeupdates/release-notes-office-for-mac
I hope you find this information helpful. Please let us know if you have any further questions If the answer is helpful, please click "Accept Answer".
Best regards,
Jansher