Yikes - I don't know best way to explain this but it's almost like the old and new versions of Outlook have switched places on my computer. The Outlook I use (version 16.16) all of a sudden is missing a ton of emails and the older version seems to be downloading 30K+ emails. Any advice you can offer?
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In your applications folder you should see the new version of Outlook listed. However, you may have another older version of Outlook (yellow O icon) inside a folder in the applications folder called "Microsoft Office 2008" or 2011. If that is the case, you obviously don't need both. Check your dock to see which icon matches up. The new Outlook icon or the older one. In either case, remove the icon, then drag the application Outlook into the dock. Be careful not to accidentally let go of the application onto the desktop instead of the dock as that would move the application or duplicate it. When you installed the new Microsoft office (assuming your using 2016 office) the installer should have removed the old version of Office. (the old microsoft office folder in the applications folder that is). If this did happen, then perhaps something else is going on.

On a brighter note, using multiple email programs doesn't really hurt you because your email and folders would sync to your email host anyway so whatever work you do in one email program would be reflected in the other as well. But I totally understand. Nobody wants to use two Outlooks!