https://www.bleepingcomputer.com/news/microsoft/microsoft-office-november-2020-updates-fix-outlook-skype-issues/

Microsoft has released the November 2020 non-security Microsoft Office updates with performance enhancements and fixes for known issues impacting Windows Installer (MSI) editions of Office 2016 products.

The KB4486756 update fixes an issue that causes Outlook and Word to fail when attempting to generate hyperlinks for long URLs.