Yes, you need to build a new Exchange server and migrate mailboxes to it.
Your Existing Exchange server environment: Exch01 (Windows 2012 R2, Exchange 2016)
You can follow below steps-
- Install a new Windows server 2016 (named Exch02)
- Install Exchange 2016 latest Security Updates on Exch02
- In Exchange Admin Center (EAC) :
- Add Exch02 to the Send Connector
- Select Exch02 > Configure External Access Domain URL the same as above and select Exch02 as the source server.
- Select Exch02 > Configure Outlook Anywhere using the same domain
- Configure OWA and other virtual directories with the same URL
- External DNS:
- Autodiscover points to Exch02
- Install a new certificate for Exch02
- Move mailboxes to Exch02
- Test send/receive emails
- Shutdown Exch01
- Test send/receive emails