Interestingly, after the lastest auto patches from Microsoft, the load time for 1st load is now 10-15 seconds, which is completely acceptable. It is 10 seconds or so if I do 1st launch of Outlook a while after booting the computer (say, 1.5 minutes or later) and 12-15 seconds if I do it shortly after booting (say, right after the hourglass on the mouse pointer goes away).
My outlook.pst file is 779MB in size.
So, for me, the lengthy 1st launch of Outlook seems to have gone away.
Many thanks to those who suggested solutions, and sorry to have used people's time.
By the way, I recommend Avast to people who ask me which antivirus program to get (such as on forums for games I play, such as the multiplayer WWII combat sim Aces High).