I get these emails almost daily.
The scam is that you click on the link and give away your password for Office 365, that gives access to all your documents and your email address.
The scammers will harvest any useful documents and take control of your email if there is a commercial (fraudulent) use for pretending to be the victim.
If you go into settings in outlook and click on rules you will see if any of your contacts has been listed, if so it is a clue that the scammers have been emailing these people but have set a rule so that you don't see their replies.
Another check is to look at the log in list in Office 365, some attempts might not be recognised.
2 factor authentication almost eliminates their access.