PhoneBoy hinted towards it but the reality needs a stronger statement (IMHO): upgrade to R80.30 - it properly fixes this!
I have O365 on various sites and it's been pretty much impossible to do anything with an expectation of 100% success other than a complex exclusion from HTTPS inspection using the Microsoft IP subnet based destinations as a HUGE group of networks which we update weekly from the published Microsoft list of O365 subnets just like you have had to do.
....until R80.30!
The SNI and other really effective changes Check Point have made from R80.20 to R80.30 in HTTPS inspection make it a genuinely realistic option...make sure you're sitting down here...to do HTTPS inspection on Office 365 traffic!
The enhanced_ssl_inspection parameter is now (at r80.30 level) completely irrelevant and ignored by the kernel.
For example, I support a site with HTTPS fully enabled, we're rolling out O365 and all I have done is allow the Application Microsoft & Office365 Services for all users. I have tested quite thoroughly for all of the main applications and everything works, with the exception of file transfer within a Teams chat (which never used to be able to work in Skype with HTTPS inspection either - I'm guessing it's a similar issue) but most corporates are not at all bothered that this particular backdoor is closed, albeit accidentally.
I have a major issue with the ability to access personal outlook.com and I'll be posting separately about that but for your needs, once upgraded to R80.30 you can drop loads of HTTPS inspection overrides and expect success! Do expect to have to keep HTTPS inspection overrides for Dropbox and Box (there's a full list in usercenter) which use sticky certificates and craplicaitons by such companies as Fedex and DHL which just break if you look at them in the wrong way.