Organizing and accessing contact information in Outlook.com
I understand the concern, especially when the old address still looks valid and could easily be selected by mistake.
Since the suggestion is returning, it is recommended that you create a new Outlook contact for the person using the new address and give it a clearly recognizable display name, such as “Jane Smith - CURRENT.” When composing mail, select To and choose that saved contact from the Address Book instead of selecting from the drop-down suggestions. Also avoid replying to older conversations, since the original recipient information may still be carried in those messages.
If this is a work or school mailbox, the most reliable safeguard is to ask your Microsoft 365 administrator whether they can create an Exchange mail-flow rule that blocks messages from your account to the old address. This does not remove the suggestion, but it can prevent accidental delivery and return an explanatory notice instead.
Finally, make sure Office is fully updated under File > Office Account > Update Options > Update Now, since this behavior remains under investigation and recipient-suggestion improvements are delivered through Office updates.