Hi fdonoso,
My advice would be to give up. They've been promising O365/Outlook integration for years with absolutely no progress or updates. The iCal calendar publishing option is not a tenable workaround for project planning. The delay you are seeing is not on the planner side. The polling interval is handled purely on the client end. But even if you add the calendar to your primary Send/Receive group, it is read-only, and you can end up with duplicates or missed appointments on an almost daily basis.
It is clear Microsoft has absolutely no intention to complete this project. If anyone from the Microsoft dev team wants to chime and contradict me here, that would be wonderful. You're only running about three years behind.