Legal email address gets bounced back

Platform: Outlook O365
OS: Win 10
Exchange Server in the backend
Cached Mode: On

The email is in the following format (single quotes included)
'First Last (Home)' <client@domain.com>

The bounce back message reads

The format of the email address isn't correct. A correct address looks like this: someone@example.com. Please check the recipient's email address and try to resend the message.

Remote Server returned '550 5.1.3 STOREDRV.Submit; invalid recipient address'

NOTE: The code below does not throw an exception even though single quotes are used instead of the double quotes mentioned in RFC 5322

using System;

namespace mailVerify
{
    class Program
    {
        static void Main(string[] args)
        {
            string email = "'first last (Home)' <yourname@domain.com>";

            try
            {
                var addr = new System.Net.Mail.MailAddress(email);

                Console.WriteLine(addr);
            }
            catch (Exception e)
            {
                Console.WriteLine(e);
            }
        }
    }
}