If its OEM then no - there are technical ways of doing it but its essentially sold with that computer like Windows OEM versions are.

If its retail then yes - quick way to find out.

if it is retail be aware that there are sometimes limited activations. 
Doesn't mean it wont work but you used have to call a MS number to verify new install.   My experience pre 2016 office versions I used if I reinstalled or altered my pc 5 times a message would pop up to call the MS number and verify the install (at the time it was automated with no waiting in line etc - press 1 to confirm type of thing).

Secondary issue is that it may be digitally assigned/registered to a MS account so may not be easy to transfer.  Other GZers may have more knowledge about this.     

There's not really such a thing as OEM Office any more, you either subscribe to Office 365 or you get a retail copy with a license key.

You do need to have, or create, a Microsoft account that the license key gets linked to.
Be careful with that as that account can not be changed in the future.
Microsoft's way of controlling the 2nd hand market I guess.

You can remove and install on another computer without issue, you just have to deactivate/remove the old computer from your Microsoft account first.

Thanks for the feedback sounds like a real minefield 

What edition of Office 2016 is it?

Its do-able
Can you do it, if its a used PC that you didnt setup, probably not.

You need the ORIGINAL MS a/c login & pass that Office2016 was assigned to.
Without that MS login/pass , you cant transfer install or activate .
The keycard's key is not the install key , you can only get the install key by logging into that original ms a/c
Yes, MS in there wisdom now have 2 keys with Office 2016,2019 . The key on the retail pack is not the install key .

The whole Office Retail install process is just a stupid mess, especially when you have many different Office installs/keys on the 1 MS a/c

All this is assuming its a retail version of office , not 365 and not a Volume Licensing version .