Yes,
OPPO A16 and A55 smartphones will get an Android 12 update based on ColorOS 12.0. With the recently released statement by OPPO, the company promised to roll this update for this device by early
December 2021. So, you have to wait for the update.
As we know, OPPO A16 and A55 is the latest device released out of the box with Android 10 and later received the Android 11 based on ColorOS 11.0. This device is promised to get another major OS update according to the company policy.