4.7.500 Server busy - Unable to deliver emails to Outlook accounts

4.7.500 Server busy - Unable to deliver emails to Outlook accounts

I'm unable to send emails today. I received undelivered messages for every email I try to send.
I'm attaching the screenshot of the message.

It is only happening when I send emails to Microsoft/Outlook emails. Now considering that most of the businesses in Australia use Office365, this is a real problem.