To gain intuition (and get the "right" solution), it is simpler to start consider the case where $n$ is a power of $2$, i.e. $n=2^k$ for some integer $k \geq 0$. (In what follows, all logarithms are in base $2$, because computer science.)
We can write
$$\begin{align}
T(2^k) &= 16 T(2^{k-1}) + 2\cdot 2^{4k} = 2^4 T(2^{k-1}) + 2^{4k+1} \\
&= 2^4 \left(2^4 T(2^{k-2}) + 2^{4(k-1)+1}\right) + 2^{4k+1} \\
&= 2^{2\cdot 4} T(2^{k-2}) + 2^{4k+1} + 2^{4k+1}
= 2^{2\cdot 4} T(2^{k-2}) + 2\cdot 2^{4k+1}\\
&= 2^{3\cdot 4} T(2^{k-3}) + 3\cdot 2^{4k+1} \qquad\qquad\hfill\text{(Same substitution)}\\
&\vdots \\
&= 2^{\ell\cdot 4} T(2^{k-\ell}) + \ell\cdot 2^{4k+1} \\
&\vdots \\
&= 2^{k\cdot 4} T(2^{0}) + k\cdot 2^{4k+1} = 2^{4k} T(1) + 2k\cdot 2^{4k}
\end{align}$$
so that $T(2^k) = 2^{4k}\left( 2k+\alpha \right)$ for $\alpha\stackrel{\rm def}{=} T(1)$. In other terms,
$$
T(n) = n^4\left(2\log n + \alpha\right)
$$
whenever $n$ is a power of two. Generalizing to general $n$ (I assume in this case the relation is missing $\lfloor\cdot\rfloor$ around the $\frac{n}{2}$) is standard, under the natural assumption that $T$ is non-decreasing.
As far as big-Oh notations are concerned, this leads to
$$
T(n) = \Theta( n^4\log n)
$$
although we did obtain a tighter expression.