It does not run on MS Windows 2016.
Please refer to the CA Output Management Web Viewer Supportability Matrix.
It has been certified on Windows 2012 Server. However, special instructions must be followed. Note that these instructions refer to Windows 2008, however they are applicable to Windows 2012 also.
Follow these two Product Document Changes (PDC's) to configure Web Viewer to run on Windows 2012 or Windows 2008:
RI14814 INSTALLING ON WINDOWS 2008/IIS7
RI22986 REGISTRY UPDATES SERVER 2008 R2 INSTALLS
You must install using this information instead of configuring it after the install.