Yes, that's correct and it shouldn't be a problem to do.
https://support.microsoft.com/en-us/help/322692/how-to-raise-active-directory-domain-and-forest-functional-levels
--please don't forget to Accept as answer if the reply is helpful--
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Have a domain that has always been at Windows Server 2008 domain functional level. Since the Windows Server 2008 has been removed, figure I should raise the domain functional level to Windows Server 2016. Can I just go into Windows Server 2019 Active Directory Domains and Trusts, select the domain, select Windows Server 2016 domain functional level? Is there something else that would need to be done instead?
Yes, that's correct and it shouldn't be a problem to do.
https://support.microsoft.com/en-us/help/322692/how-to-raise-active-directory-domain-and-forest-functional-levels
--please don't forget to Accept as answer if the reply is helpful--