Suppose the employee has a meeting at 4 and the current time is also 4. And now the meeting is cancelled. The employee selects "remove from calendar" from the mail. The meeting gets removed from the teams calendar but the status of the employee under teams is still shown as "In a Meeting".
This should not happen as there is no more meeting for that slot under the teams calendar, hence its status should also be changed to "Available".
This feature or enhancement is not present under the teams. May be could be added to make it a "Real World Scenario". I don't know where to report this bug or enhancement hence i elaborated under this forum.