Free/Busy data is not showing (Changing free/busy) in Outlook 2016 and 365

Step One: Click Calendar in the bottom left of Outlook 2016 or 365

Step Two: Select Calendar Permissions at the top of the Share ribbon section.

Step Three: Click Default name in the center field.

Step Four: Make sure either "Free/Busy time" or "Free/Busy time, subject, location" is selected in the Read section.

Step Five: Hit "OK"