Question about Team/Group Calendar

I’m curious if anyone has any answers or suggestions for the following scenario:

Within my organization, I’d like to create a single M365 team containing all departments. Within MS Teams, each department would have its own Channel under that one all-encompassing team, where they could schedule meetings, communicate, share files, etc.

Each department has roughly 5 team members and there are 8 departments, so let’s say this all-encompassing team will contain 40-45 members total.

Each department schedules weekly status meetings. My vision is to have a single shared calendar containing weekly status meetings of all departments, and I’d like for all team members across all departments to be able to see that shared calendar, but here’s the challenge:

I don’t want each team member to have all department meetings display on their own work calendar, so they’re not confused as to what meetings they actually need to join versus just be aware of, but only display meetings they are individually invited to. I would however like if they had the ability to see all team meetings if they are looking at the greater Team/Group calendar in Outlook.

I also don’t want all team members to be notified about other department/channel meetings, for example if it’s cancelled or rescheduled. I only want them notified about meetings they as an individual are invited to.

Is there functionality or workarounds that support this scenario? Thanks in advance!