calendar share

Hi experts

i have exchange hybrid environment.

is it possible to share calender ie onpreme users to share calender to online users.
For example lets say onpremuser@mydomain.com is onpremises user and onlineuser@mydomain.com is exchange online user.
when my onpremuser@mydomain.com is logged in from outlook
Account Settings-Delegate Access- here when i try to Add Office 365 user(onlineuser@mydomain.com i am getting the below error
The user 'onlineuser@mydomain.com cannot be added. Non-Local users cannot be given rights on this server. i want to know is this feature supported

i have discussed this with my friend and he says to run the below command on prem but i am not sure what does it do.

set-sharingpolicy -identity "Default Sharing Policy" -Domains "mydomain.com:CalendarSharingFreeBusySimple", "anonymous:CalendarSharingFreeBusyReviewer"