The message that you see when you try to open such a link is misleading. The Outlook client for Windows will not let you open a link in a message that is in your junk folder. It's likely the same on the Mac. This is by design.
As blackcat said, the solution is to move the message back to your inbox.
If there are messages from senders that you don't want cluttering your inbox, rather than flag the messages as junk, set up a rule in Outlook that puts the messages in a designated folder (name it Stuff I'll look at later, for example). When you have the inclination you can sort through those messages and click on links if you like. They should open.
Creating the rules can be tricky since the subject lines probably change all the time. You can try setting up the rule based on the sender's email address.
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