When deploying office 365 to our PCs with Intune we are able to use XML and have the update channel set to monthly updates. Can we deploy Office 365 similarly to our Macs with JAMF and set the update channel?
Yes you can. Create a new configuration profile with a custom payload and select Microsoft Auto Update to setup the MAU preferences you need.
One of the best resources for Office on macs: https://macadmins.software you might find some relevant info there in the Preferences link and search for: UpdateCheckFrequency