Am I right that he is micromanaging?
Well, that may well be a matter of opinion. Or maybe it's more clear-cut, but we would need more details about the job/industry to better understand the situation to make an informed assessment. So I will give this a solid maybe.
What could I do to handle it?
First of all, open your calendar and apologize for any prior misunderstanding. If this is your personal calendar, that's one thing. But if the calendar is business-related and is being stored on business computers, then it belongs to the business and so your manager has a right to it. This is especially true if you're working a "full time" job where working during business hours is the typical expected norm.
Knowing the intended topics of meetings might help him formulate strategies involving multiple people, like having you help someone who is struggling or reducing duplication in different parts of the company.
Second, put forth extra effort to get on this person's good side. That is always helpful in cases for negotiating, and since the person who is now your manager ended up getting this position which is designated to manage you, that person is likely the one negotating from a position of more strength. (You probably don't want to be ticking that person off.)
Third, let the person know what you prefer. The more valuable you seem, the more prone the manager may be to try extra hard to appease your wishes.
A few stories:
Multiple employers have adopted the slogan, "If there is time to lean, there is time to clean." In other words, if you're not on break, be productive. This might be more common in many customer-facing entry-level jobs. Salespeople working on commission and independent contractors might commonly be managed with less precision.
I worked in a "call center" for years, and was almost always the employee getting the highest quality ratings on any team of 10-15 people that I'd be a part of. I recall the second-highest-ranking person catching me in the hallway, and asking me why I am still in the position I am. The reason was because my average call time was seventeen seconds too long. This local leader acknowledged that sometimes the company may put too much emphasis on the "key performance indicators" metrics. Not that his acknowledgement in the hallway ended up doing much of anything to help my position change.
I consider that to be rather micro-managed. Although in the realm of trading stocks, I suppose that when split-seconds count, something over 15 seconds would be an enormously long time that could not be ignored.
I recall my father telling me about a meeting he had with his supervisor. His boss called him by name, and then said, "You are the least supervised person in the entire company, with the least amount of oversight over what you are doing. Even moreso than me." After pondering that for a few seconds, he noted, "and I'm totally okay with this. This does sound good to me."
My father was a salesperson who sometimes had seven or eight employers simultaneously, as he would sometimes sell product and so might work for 2 or 3 days a month for one company, and also help other companies.
So, to determine how much you are being overly-micromanaged or not may depend on quite a bit more context than what the question provided. Ultimately, how "micro" a person is being managed may often be an opinion that is not shared equally between the perspectives of the employer and the managed employee. Whether daily reporting is ridiculously pointlessly frequent or laughably lenient may vary between different scenarios.
What could I do to handle it?
Seek to change reporting expectations. Maybe that means a restructuring so that you aren't expected to report to this person.
But as long as the company does expect this of you...
Get on the person's good side, and make things work out as amicably as possible.
Is it time to look for a new job...?
Yes. Well, at least according to some people, it is always time to look for a new job. You'll need to determine whether the supervisor's and/or company's level of cooperation with your requests/requirements are sufficient to make you happy enough to want to stay.
I recall one time when I wanted to re-define some of the work expectations. I decided that if the conversation went poorly, the company might decide to not keep me. So, I started looking into the possibility of having another job in my back pocket, just in case. It turns out I found another job that I decided was more attractive anyway, so I did switch jobs, and never even bothered having the negotiations with the first company.
Obviously, individual experiences can be different. "Your mileage may vary." What you reported didn't indicate that the supervisor has been fed up enough to want to give you the axe, but we would need more context to answer that with more clarity.
(By the way, in my opinion, the way the question is asked now does seem to provide a useful key question in this "question" on Workplace.stackexchange.com, which is, "Am I right that he is micromanaging". If you want more answers about another sub-topic, it may be most appropraite to simply create a new question with more focus on the specific other sub-topic.
Therefore, I'm actually not necessarily asking for more details to be added to this "question", even when I state that is why a more detailed answer couldn't be provided with how things were asked here.)