Outlook Error: "The operation failed..." when selecting Manage Rules & Alerts

There is an ongoing issue which matches the description: EX171088 - Unable to manage rules in the Outlook client

Status:

Service degradation



User impact:

Users are receiving an error when attempting to manage their rules in the Outlook client.


 
Latest message:

Title: Unable to manage rules in the Outlook client

User Impact: Users are receiving an error when attempting to manage their rules in the Outlook client.

More info: Users are receiving the following error: 

"The operation failed because of a registry or installation problem. Restart Outlook and try again. If the problem persists, reinstall."

Current status: Our investigation into a viable fix requires a thorough code analysis. We're working to identify an adequate workaround that users can implement while we address the underlying source of the problem.

Scope of impact: Impact is specific to a subset of users who are served through the affected infrastructure.

Start time: Tuesday, December 18, 2018, at 9:32 PM UTC

Preliminary root cause: A recently deployed update introduced a code issue that is causing errors for users while managing their mailbox rules in the Outlook client.

Next update by: Friday, December 21, 2018, at 1:00 AM UTC