When setting up the IMAP import from the Office365 mailbox, the error Cannot connect to 'outlook.office365.com' (error code: 10060) is issued.
On October 13th, 2020 Microsoft ended the support and retired Basic Authentication for Exchange Active Sync (EAS), Post Office Protocol (POP), Internet Message Access Protocol (IMAP), and Remote PowerShell (RPS) in Exchange Online.
Starting from the FlexiCapture 12 Release 3 Update 3 (Build #22.214.171.12493), the import using the Microsoft Graph Mail API is supported. You can find this import method when setting up the new Image Import Profile. It is required to use the Microsoft Graph Mail API when setting up the import from the Office365 mailboxes.