In Outlook, when you create a new e-mail message based on .oft template, you will get it saved in a .olm file, hence essentially making OFT to OLM conversion. This is possibly only in OSX version of Outlook, which uses .olm files to store e-mail data.
Convert Microsoft Outlook template to Outlook for Mac e-mail database.
We found one software available in the database for this conversion.
Apple macOS / Mac OS X software - convert oft to olm on OS X
Mac version of the popular e-mail client and personal information manager from Microsoft
Convert from oft file format
The table with program actions contains information about what each program is capable of doing with their files. This may be a good pointer for further searches for certain file conversions and help you find the converter you are looking for if our search result is insufficient for you. However, it is far from perfect and may sometimes show results which are not really usable because of the nature of the software handles the files. So a conversion that appears as possible, just because of matched actions, may in fact not be possible.