Choose the M365 Add-in. You can add the COM Add-in later if needed.
Tips for Choosing
M365 Add-in: Most organizations choose this option as it works in all Outlook versions (Outlook Classic for Windows, New Outlook, Outlook for Mac, OWA and Outlook for Mobile-iOS and Android).
COM Add-in: Choose this if you only require protection for Outlook Classic for Windows.
Hybrid: Choose Hybrid if work is done mainly on Outlook Classic for Windows but you also need protection for other Outlook environments. You will need to install both the M365 Addin and COM-Addin. The correct version will be activated depending on the Outlook being used at the time.