Here is a link that explains "free memory" in its most literal usage:
After searching a bit, I found reports of this "insufficient free memory" error occurring for Outlook 365 AND for Excel 365, though with different side effects.
Several articles suggested that the problem was a form of data corruption.
One set of suggestions of the causes was that the system disk itself was full or a secondary storage medium was full.
Another suggestion was that too many high priority tasks were running and a low priority task couldn't force an outswap to make room for itself. How you get to the latter case is beyond me unless you have a small-memory machine and try to do too much at once.
The final cause I saw was the swap space file, which I described in post #18 of this thread, near the bottom. The reason you need swap space is, whether you later use it or not, things that get tossed into memory for execution cannot start until they have allocated swap space, on the theory that they WILL swap. If the swap file is full, then you can't bring an instance of something into memory. I keep on coming back to something that limits memory usage and a program launch does affect virtual memory. But the difference MAY be that the backing store (i.e. the swap file) isn't consumed the same way for O365 as for a traditional copy. This is getting deeper into the weeds.
This is my first post, so please be kind.
You picked a great question for your first post, because this is a really sticky little problem. The difference between a "normal" version of Office and the "365" version SHOULD be nil (given the matching build numbers) but apparently it isn't. I believe they come from different folders. As I recall, "normal" Office is usually in
ThisPC\C:\Program Files(x86)\Microsoft Office\root\Office nn, but Office 365 can be in a totally different path and it might be hard to track down on a given system.