Hi,
From your description, you can follow the steps below to create a calendar group, then you can see the combined schedules at a glance.
1. In Calendar, on the Home tab, in the Calendar Groups, click Create New Calendar Group, and then click Save as New Calendar Group.
2. Type a name for the new calendar group, and then click OK.
3. Add calendars to the calendar group.
About the notification from meeting update, you can try to create a transport rule. Note that it works only when organizer sends the update.
For more information, here is an article for your reference.
Create, view, or delete a calendar group (Note: Though it is Outlook 2010, it is also helpful to Outlook 2013 about this issue)
https://support.office.microsoft.com/en-us/article/Create-view-or-delete-a-calendar-group-04fc64f2-b658-450b-8dce-dd27ed660570?CorrelationId=36bc9abe-fcb6-42f9-8b71-53dc0b71e957&ui=en-US&rs=en-001&ad=US
Hope this can be helpful to you.
Best regards,