Outlook Error: HRESULT: 0x80080005 (CO_E_SERVER_EXEC_FAILURE)

Reason
SAP Run as Administrator while Outlook is not

Solution
Run SAP and Outlook both as Administrator (or not as Administrator if possible)

Still not working?
In many cases, these errors can also be due to a corrupt Office installation. If above did not work we recommend you try and repair the Office installation under Program and Features