Yes, you can do that with Outlook.com cloud. It will transfer all your contacts and calendar appointments to the contacts and calendar app of your phone. This works and Android and iOS devices.
If you're not ok with using cloud for your personal data such as contacts, you can try using a 3-rd party software called AkrutoSync. It also works with the native Android and iOS apps and can even transfer contact pictures from Outlook to your phone.Unfortunately, there's no USB syncing, only syncing via Wi-Fi or over the Internet. Here's a link to their official website: Best Ways to Sync Android with Microsoft Outlook | AkrutoSync
I'm using the second option to transfer Outlook contacts into my Galaxy S7. Works like a charm for me. The only bad thing is that you have to reconfigure connection each time you want to switch between syncing via Wi-Fi and syncing over the Internet.