Same here - I discovered the app password setting and set one up.
I still can't get to email by any means. Web mail returns the timed out message as per OP. IMAP in outlook says "Task 'Synchronizing subscribed folders for NTLWorld' reported error (0x800CCC0E) : 'Outlook cannot synchronize subscribed folders for NTLWorld. Error: Cannot connect to the server. If you continue to receive this message, contact your server administrator or Internet service provider (ISP).' A new generated app password did not fix that,
However, I can send emails from the account using Outlook and the new VM-generated password.
Perhaps it will all come good in due course!