Have a look at the com.microsoft.autoupdate2 manifest under Application & Custom Settings in computer configuration profiles. You’ll see the channel update options listed there.

<key>ChannelName</key>

<string>CurrentThrottle</string>

@silverwalks I'd suggest you take a look at the Office for Mac release notes (https://learn.microsoft.com/en-us/officeupdates/release-notes-office-for-mac) and note how many fixes have been released for Outlook in the non-throttled/Current channel. While reducing update churn for Office would be nice I don't see that as being possible right now given the stability of recent "monthly" releases.