Draft: SKIP UPDATE CHECK Update Helm release postgresql to v16

This MR contains the following updates:

Package	Update	Change
postgresql (source)	major	^12.0.0 -> ^16.0.0

Complete MR checklist

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• Followed upgrade instructions outlined in docs/DEVELOPMENT_MAINTENANCE.md
• Update Docs with new/updated steps as needed
• Tested and Validated Changes made with supporting info like logs or screenshots from test pipelines

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• Tested and Validated changes

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Upgrade Notices

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