Outlook for Mac also has Profiles to manage multiple setups on the one machine. Though they are managed very differently to Outlook for Windows, the basics are the same on both.
To add a bit of confusion, profiles where called ‘identities’ up to Outlook 2011. Outlook 2016 and later for Mac use the ‘Profile’ name.
To manage Outlook profiles on a Mac go to Finder | Applications folder then find the Microsoft Outlook app. Right-click (Ctrl + Click) to open the menu and choose ‘Show Package Contents’.
Look in the Contents folder, SharedSupport for Outlook Profile Manager.app
The Outlook Profile has much the same options as the Windows equivalent, just with a different look.
+ to add a profile
– to delete the selected profile
Set as Default is hiding under the ‘Cog’ icon.
Rename a profile by clicking on the name to make it editable.