@ffac,
Your solution is to indeed stand up a new virtual machine with SQL Server 2016 64-bit. The work of standing up the new virtual machine with Windows Server 2019 is your responsibility. AC will move your database over for you and take care of the rest for a fee of about $500. Pointing your workstations to the new AC server is also your responsibility as well as coordinating with any interfaces (LabCorp, etc.) for them to move their stuff over to the new server.
In short, this will cost you about a day's downtime and some money. If you are comfortable with all the things that are your responsibility, then paying AC is about all you have to do as most of the interface guys move their stuff for free. If you are not comfortable working with AC or standing up your own VM, pointing workstations, etc. then you can reach out to me to work with AC to turnkey it all for you. My rate is $95/hour.
Note that being comfortable handling such a migration yourself means also having the skill to solve any unforeseen technical issues that crop up as well. Handling the migration yourself with the idea that should something go wrong you can just email me or post on the forum and we will all drop what we are doing to save your hide then and there is not feasible. Such upgrades/migrations need to be well planned events rather than "I'll jump from the plane and ask for a parachute later if my idea doesn't work."
NOTE: I do not support peer-to-peer networks. At all. Also, I do not support any version of Windows older than Windows Server 2019 on the server side and Windows 10 on the client side. If you have older stuff, I can help upgrade it all but that will need to be factored into your costs and time.
James