The v4.16 compatibility update has been submitted to the Marketplace team. I ran into some trouble with the Open Level node in packaged builds for v4.16. If anyone who has already converted their v4.15 projects into v4.16 is facing this issue, just follow the steps mentioned here: https://answers.unrealengine.com/questions/604141/with-416-bp-openlevel-fails-when-packaged-windows.html#comment-604141-form
Gameplay demo of the Tower Defense Starter Kit running on v4.16 (Windows): https://www.dropbox.com/s/jf70y60e9qqypfe/Tower%20Defense%20Starter%20Kit%20Sample%20Game%20Demo.7z?dl=0