According to your description, it seems to be a recently occurred issue, so what specific operations did you do before this problem occurred?
In order to conduct further researches on your issue, you could also try the other workarounds mentioned in the official article such as Repair your Office programs and Repair your Outlook data files. For more information, please check Outlook not responding, stuck at "Processing," stopped working, or freezes.
If the issue still continues, corrupted outlook profile is indeed one possible cause of your issue, so please try creating and using a new Outlook profile via Control Panel > Mail > Show profile and see if there is any difference.