Cannot authenticate for SMTP email account with 2FA

We have an MS 365 email account that we’re using as the “SMTP Username” in the “Other SMTP” option. Recently they have required 2FA (Two-Factor-Authentication) on this email account and when we enable 2FA on this account we’re getting the “SMTP Error: Could not authenticate.” error and users can’t submit messages through our contact form. Is there any configuration setting that will allow “SMTP Username” accounts with 2FA enabled to work with the WP Mail SMTP plugin?