Bump Node.js to 16.14.0

What does this MR do and why?

This MR bumps nodejs from 14.17.5 to 16.14.0 as part of keeping up with the latest Node.js LTS and reducing the number of nodejs versions a user needs to install.

I'm not a Node.js / SME here so I'm unsure if this project is able to work correctly with this version yet 🙏

Epic: &7623 (closed)

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