What does this PR do?

Prepare for the release of a new minor version, namely v0.16.3.

Before submitting

[ ] This PR fixes a typo or improves the docs (if yes, ignore all other checks!).
[x] Did you read the contributor guideline?
[ ] Was this discussed/approved via a Github issue? Please add a link to it if that's the case.
[x] Did you make sure to update the documentation with your changes (if applicable)?
[x] Did you write any new necessary tests?