Microsoft Office 2016

Will this version of office run on the Mac OSX Big Sur 11.1 ?

This one?

Likely not. From this article:

Office 2016 for Mac not supported by Microsoft (no bug fixes or OS compatibility updates after October 2020). Office 2016 should work on Big Sur but it’s not guaranteed and Microsoft won’t help.

FYI: there’s a discussion button for every sale.