Microsoft is updating the icons in Outlook on the Web. They are replacing the Microsoft 365 Groups icon seen under the Groups section in left navigation pane with a new look.
Currently, it is represented by a folder icon but going forward it will be replaced by the Groups icon. This icon change will bring visual coherence between Outlook on Web and Outlook Desktop application.
This change will affect users on the Outlook on Web application.
Microsoft expects the change to roll out in mid-December and be complete by late January 2022.