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The Microsoft account stores security information within a security chip; moving the hard drive or replacing the motherboard disrupts this relationship. Disconnecting & reconnecting the account is necessary for Microsoft software, such as Outlook, to properly connect and operate. This occurs when the TPM chipset is changed either by a manual reset or a motherboard swap, for example and the error "Keyset does not exist" appears.
This issue can be resolved by adjusting Outlook's Trust Center settings.