Contacts and Calendar from iCloud missing or not synching after upgrading to Windows 10 or Outlook 2016

I’m using iCloud with Outlook to synch my Contacts and Calendar with my iPhone and iPad. This all worked without any issues until I upgraded to Windows 10.

When I try to open my Contacts or Calendar folder, I now get the error:

The set of folders cannot be opened. The information store could not be opened.

I also no longer have the iCloud buttons on the Ribbon to Refresh, see any Notifications or Share Calendar.

How can I get iCloud to work again with Outlook on Windows 10?