In the Outlook App for Mac, click on Outlook and go to Preferences and then General,

At the bottom where it says Sidebar:  check the box to Show all mail account folders

 

Back under Outlook UNCHECK New Outlook

 

 

 

 

 

 

 

 

 

 

It will ask you if you want to revert, click on Revert

 

 

 

 

 

 

 

 

 

Now when you open Outlook you should have the option to create New Contact List

 

 

 

 

 

You may have to add your email account, if so just follow the instructions.

 

If your New Contact List Icon is Grayed out in Mac Outlook 365

1. Click on the Outlook > Preferences... menu options.
2. On the Outlook Preferences dialog box, click on the General icon (top row).
3. Uncheck the Hide On My Computer folders check box.
4. Close all dialog boxes and exit Outlook.
5. Relaunch the Outlook application.

 

At this time, you can not go back to the NEW Outlook and use these Contact Lists.  Hopefully, there will be an update in the future that will include this in the NEW Outlook.