As a general rule, the NXP Model-Based Design Toolbox is tested and developed with the last 4 MATLAB versions prior to the release.
In the release note for the version 3.0.0 is stated in chapter 5.1 that this toolbox supports the R2017a/b and R2018a/b
This does not means the toolbox can't works with other versions too - in order to have it work with your R2016b, all you have to do is to replace in all mdl files the Version to 8.8 (the list of version here: https://en.wikipedia.org/wiki/Simulink)

Once you replace (use a search and replace function) in all MDL files, you should be able to use NXP Toolbox with Matlab 2016b.
Good luck!
Daniel