Putting aside any other issues regarding past practices with 2016 and version 365, for now if you are using 2016 MS OFFICE Outlook, it should be up to the latest version to continue to "receive and send emails" into the Office Outlook program and equal. All this will end in April 2023 for All curent properly updatred versions of MS Office Outlook, such as 2013 and 2016, 2019 (email send/receive) except say the "purchased Office Outlook 2021" (good for four years at $149.99), and 365 if you are going to "rent" it from then, so to say, per month or by the year; cheaper by the "once a year payment".
By the way, all old MS email addresses such as "hotmail.com", "msn.com" and the like go into the Outlook.Com email program, which you could use in its self. Myself, since the days of "Outlook Express" I prefer the MS Office Outlook program for my email management. Some folks say MS Office Outlook 2010 was the best version going. I just went from "2007" to "2013 fully updated and getting monthly updates". But that will also end for me in April 2023. I need to decide if I'm going to buy say MS Office Outlook 2021, or be a "renter" for their Office 365, or go to say FireFox "Thunderbird" (that is just an email program), and keep MS Outlook Office 2013 for the rest of it's office programs features such as Word, or Excel. But, 2013 will stop "updating monthly" as of April 2013, in the same manner I was using Office 2007 for the last few years without benefit of udpates. I hope this helps to clear things up, I too get confused over all these issues.