Scenario: I planned to work from home today. Yesterday I added an all day calendar entry to my calendar with a status of working elsewhere. I also turned on Out Of Office with the message that I was working from home and a number to contact me on.
During the day whilst I was working the Teams icon on my Taskbar at my end had a status of available. Yet my colleague contacted me to ask me to turn OOO off as I was showing as OOO at her end.
So! Same person, two different status settings. All changes that could affect Status were made the day before so do not believe it as a latency issue. My Teams chat has a Recent Contact tab so I believe I am up to date with updates.
Unless they changed it your status when OOO will always show to others as OOF while it's turned on. It should also show for you as that too however and you used to not be able to change that unless they updated it. But seems it's possible that there might be a bug on the client side not reflecting this status.