Unfortunately, this feature is not available on Mac Mail. It could be speculated that since Microsoft “grew up” in corporate whereas Macs are traditionally personal devices (maybe some small business), a feature like this is a natural outgrowth of Outlook as it evolves.
I know from personal experience that canceling a meeting of more than 10 people, attaching a cancellation message was critical. Before this feature existed, I had to manually create an email message to send to attendees.
You should provide product feedback/new feature request to Apple at https://www.apple.com/feedback/calendar/
