How to Share Microsoft 365 Folders in Outlook for Windows
You must grant Folder visible permission at the upper-most folder of the mailbox (i.e., the account name) and then additional permission for any subfolders that you want your members to control.
Granting "Folder visible" permission
You must grant Folder visible permission at the root level before you assign access to the Inbox.
Right-click the root folder of the Exchange mailbox (this is the top-level folder with the name of the account). Then click Folder Permissions. If "Folder Permissions" is not available, click Data File Properties.
In the Permissions tab, click the name of the delegate. You may need to Add the delegate first.
Under Other, select the Folder visible check box. All other permissions, (i.e., Read and Delete Items) can remain as No.
Click OK.
This process grants users access to the top level of the account, but not to anything within the account. To be able to see anything within the account, access needs to be granted to Inbox, Cabinet and each folder/subfolder. Continue on to the next section to see how to do this for each area and parent to which the other individual needs access.
Granting Inbox, Cabinet and other folder/subfolder permissions
In the Folder Pane, right-click over the folder that you wish to share. From the shortcut menu, select Properties.
In the Permissions tab, select the name of a user in the list or add a new user or group by clicking the Add button.
Use the Permission Level pull-down to select an appropriate permission level. The list of levels descends from highest (i.e., Owner) to lowest (i.e., None).
After you choose a permissions level, you can further adjust the settings by selecting buttons or checking and unchecking boxes in the rest of the Permissions section. You can set different permission levels for each person or group that you select.
Other shared mailbox information
Once folders have been shared, the information in the following articles explain how others can add those folders into their own accounts based on the way they access the system: