Hello @Naidu Muppaneni,
Thank you for your post and for sharing the screenshot.
To help better understand the issue, could you please check whether the Teams Meeting option is available when using Outlook on the web: https://outlook.office.com/
I would also recommend making sure that you are signed in to both Outlook and the Teams desktop application using the same account.
In the meantime, could you please check whether the "Microsoft Teams Meeting Add-in for Microsoft Office" is enabled in Outlook? You can do this by going to File > Options > Add-ins and checking whether the add-in appears in the list of active add-ins. 
If it is not listed as active, at the bottom of the window, next to Manage, select COM Add-ins and click Go. If you see "Microsoft Teams Meeting Add-in for Microsoft Office" in that list, please make sure it is enabled.

It would also be helpful to check whether the add-in has been disabled by Outlook. From the same Add-ins page, change the Manage dropdown to Disabled Items and click Go. If the Teams add-in appears there, please re-enable it.

If possible, could you share screenshots of both the COM Add-ins window and the Disabled Items window? That would help me better understand the current state of the add-in.
For more information about this issue, please refer to this Microsoft's official article: Resolve issues that affect the Teams Meeting add-in for classic Outlook - Microsoft Teams | Microso…
Please also let me know whether the Teams Meeting option appears in Outlook on the web and whether the issue started recently or has always been present. Any additional details you can provide will help me narrow down the cause and guide you more effectively.
Thank you very much for your cooperation, and I look forward to your update.
Best regards,
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