Hi @mikeandsuzan ,
Thanks for posting your question here. We were all new to Webex at some point, and our community is certainly here to help. Yes, you are correct, the Webex plug-in in Outlook is for you to set up a new meeting with someone, rather than add existing meeting information into a calendar slot.
Who organizes the recurring Webex meeting? The meeting organizer can add your email as an attendee to the recurring Webex meeting and you will get a recurring meeting invitation in your email.
However, you can also set up a recurring appointment with yourself in Outlook (without the Webex plug in) and just copy and paste the meeting ID and password in there. I have done that myself and have found it useful. I added a screenshot to show you how I would set it up in Outlook.

I hope this answers your question. Have a great rest of your day and feel free to post any other questions you have about Webex here in the community. We are more than happy to help.