Yes, TYG03 will work reliably at 16x.
HL in your drive name refers to Hitachi-LG, it doesn't matter under what brand it was sold, the hardware is the same.
This is not important to your question, but P-CAV means partial constant angular velocity, it refers to the portion of the burn where data transfer speeds increase from 7.3x to 16x [or 12x] while rotation speed is constant at 10,000 RPM. The other, 'flat' portion at a constant 16x [or 12x] is CLV, or constant linear velocity, it's where rotation begins to slow down. You can hear the slight difference toward the end of a 16x burn when the RPMs fall from ~10,000 to 9,000 RPM.
Read more about P-CAV here: What are CAV, CLV, PCAV, ZCLV & OPC?