Microsoft's recommendation is to always use the latest OS as the 'upstream'. Downstreams are fine being different OS's. That being said - it should work with a 2016 box as the upstream and a 2022 box as the downstream - but you'll want to also plan to upgrade that server too.
Are you doing an in-place upgrade of the 2016 box?
https://www.ajtek.ca/wsus/another-successful-in-place-upgrade-why-not-change-how-you-think/
You MAY run into this:
https://www.ajtek.ca/wsus/wsus-post-deployment-configuration-failed-windows-server-2022/