Thanks, Alexandre.
I do not see Postgres 16 as listed version on official Microsoft Doc
https://learn.microsoft.com/en-us/azure/postgresql/flexible-server/concepts-extensions#pg_buffercache
However official Postgres website has this as supported version.
I have also created two servers with version 16 in West Europe and East us and I also do not see this particular extension.
For a more in-depth investigation, I would suggest opening a support case and sharing the case number. If you encounter any issues with case opening, please let us know.
Thank you!