Yes.
You will likely need to repair or reinstall it. (This is true of most applications when you "upgrade" to Windows 11.)
- https://support.office.com/article/7821d4b6-7c1d-4205-aa0e-a6b40c5bb88b
- Download and install or reinstall Office 2016
The first link is about Repair. My guess is that you will not find Office 2016 in your installed apps. So that will not help.
The second link is Microsoft trying very hard to get you to switch to Microsoft 365 subscription. When you get to your account page go to the misleadingly titled Subscriptions tab on the left. This link works for me to get to that page.
At the bottom of that page you should find products you've purchased. Click on that to find your Office 2016 license and install it.