Can't update my password in the Outlook client for Windows

Hi,

I recently changed the password for my hotmail address, but I can't update it in the Outlook client on Windows 11.

When I open the Outlook client, I get prompted for the new password, but when I enter it, I get the following error message : "An error occurred. Try again later. 0x80048823"

If I try to log in to outlook.com in my browser, I get the following message: "You have tried to login too many times with an incorrect account or password."

I did enter the wrong password several times in the Outlook client yesterday (I thought I was prompted for my email password, but the app was actually asking for my Windows account password). It's been over 24 hours now though, and I haven't entered the wrong password since.

How much longer need I wait before I can update my password?

I can still access my other email accounts in the Outlook client, but the app lags a lot and it's hard to send and receive emails from the other accounts.

Specs:

• Bugged email address: a hotmail address (not associated with the Windows profile I want to use now (my business profile), but associated with another Windows profile on the same PC (my personal profile))
• Outlook client version: MS Office Professional Plus 2021 (updated today)
• Windows version: Windows 11 Professional (updated 2 days ago)

Let me know if you need any other information to help.