The documentation for installing OCP 4.16 on IBM Z states a list of Z/LinuxONE versions that are supported. The list for 4.16 should include z17 and LinuxONE 5. Examples for the minimum requirements (but there are other places that include this module): [1], [2].

[1] https://docs.redhat.com/en/documentation/openshift_container_platform/4.16/html/installing_on_ibm_z_and_ibm_linuxone/installing-ibm-z#minimum-ibm-z-system-requirements_installing-ibm-z
[2] https://docs.redhat.com/en/documentation/openshift_container_platform/4.16/html/installing_on_ibm_z_and_ibm_linuxone/installing-restricted-networks-ibm-z#minimum-ibm-z-system-requirements_installing-restricted-networks-ibm-z

    4.16