Hi anonymous user,
What's the type of your account? IMAP or Exchange?
If you are using your email account as Exchange account, before going further, maybe it is necessary to know the difference between Cached Exchange Mode and Online Mode. Cached Exchange Mode gives users a seamless online and offline Outlook experience by caching the user's mailbox(OST) and the Offline Address Book (OAB) locally. And Online Mode works by using information directly from the server. So, if you do not want Outlook desktop client to create any OST files, Online Mode is indeed an available choice. Reference: Comparison of Cached Exchange Mode and Online Mode.
I noticed that you may have created the registry values in the wrong path. Please check the detailed steps mentioned in this article: Outlook Online mode creates an OST file and modify your settings to see if your issue could be resolved.
(Note: Since the web site is not hosted by Microsoft, the link may change without notice. Microsoft does not guarantee the accuracy of this information. Serious problems can occur if you modify the registry incorrectly. Before making changes, back up the registry to restore it in case something goes wrong.)
If you got your settings configured correctly, you should be able to see the "Online with: Microsoft Exchange" status at the bottom of Outlook.
Hope this can be helpful.
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