You are correct that this is not currently possible with Airtable’s native functionality.

You would have to use one of 3 alternative ways of doing this:

1. 
   

   Write your own custom Javascript.

   
   


2. 
   

   Create your own API call to Outlook by using datafetcher.com

   
   


3. 
   

   Do this in a low-code/no-code way (i.e. no coding necessary) by using an integration tool like Make.com, which natively supports Outlook & Airtable:

   
   

I was able to cancel an event for attendee in the update outlook meeting automation. As long as your record has the outlook event id. In the update event - update the attendees field and make it blank. Create a title saying Cancelled or what ever you want it to say. It will send an Outlook cancellation email to the attendees of that event. 

Unfortunately it doesn't remove it from the schedulers calendar it only cancels for attendees.