Is this a team mate at a US company? If so, note that Teams live captioning may not be enough to meet your non discrimination requirements. Your company may have a legal obligation to hire an ASL interpreter or human transcriber, including for in person meetings.
My biggest recommendation is to use a phone call for audio because he can then use America’s free video relay service for ASL or captioned telephone service. The captions on captioned telephone use both an AI and a human in conjunction, so they are much more accurate.
Try to do some audio-free team bonding exercises. Perhaps charades (with everyone typing answers).
If he uses ASL, learn some and provide resources to other teammates to learn some. Knowing some ASL, at minimum enough to do some small talk, will be a huge sign of respect towards him if that’s his native language.
Finally, something that people might not think about: If he misses something someone said and asks you what it was, never say "it's nothing" or "it wasn't important" or "it was just a joke" no matter how minor the comment was. Just repeat it no matter what.