Can iPhone 7 support iOS 16.0.0 or higher?

The highest level iOS version an iPhone 7 can run is iOS 15.8. So no, it cannot run iOS 16 at all.

An iPhone 6s, iPhone 6s Plus, iPhone 7, iPhone 7 Plus, or iPhone SE 1 isn't capable of 16 or above; they require an A11 or better CPU. The current release for it is 15.8.1; nobody on these boards will know if Apple's going to patch it again.

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No. The highest iOS version supported by the iPhone 7 is iOS 15.x.x. More information here 👉 iOS reference guide.

Axel F.