Users will soon be able to set their Out of Office settings and notifications from within Teams, and this will then sync with Exchange online.
Microsoft Teams have for a long time been able to read the OOF status from Exchange, but with the new update announced it will also be able to write status.
According to the Admin center, this feature will roll out during May
There will be two ways to access this feature from Teams, one through the "Set status message" panel accessible from the user profile image, the other from the "settings" page shown in the image above.