I fear you'll have to try that.
Since you are on a new PC why not change to Thunderbird if you need a mail app? With it being on Apple, Linux and Windows it makes moving the mail storage around a lot easier.
Labels? I don't use them and https://www.macworld.com/article/2033842/make-mail-and-gmail-play-nice.html while dated does note which labels don't work. So I'm going with labels and Mac Mail are not compatible.
1) Is there anything Mac OS Mail cannot do that the MS Outlook email client can?
I have backups of my old email downloaded from the Outlook client. Can Mac Mail read these backups?
How do I migrate from the Office Outlook client to Mac Mail?
My university has an exchange server.
2) Do you use Gmail on the Mac Mail client?
Is there some way to be able to create Gmail labels using the Mail client?