First of all I have to tell you that I am in favor of simplicity, without giving up getting good results.
I have never tried the LED you propose. I have taken a look at the technical characteristics. Apparently it is an LED that can produce light of any color of the visible spectrum.
In my opinion, such sophistication is unnecessary for film digitization work.
The power of 40 W and the resulting luminous flux seem to me to be exaggerated for this application.
In my device I am currently using a simple and cheap 2 W, 170 lm, 3300 K LED lamp, very easy to use, powered by 12 V, which is really giving me good results.
With the Raspberry Pi HQ camera, good images are obtained with 4 ms of exposure time.
I am digitizing Super8 films, I have not tried it with 16 mm films, but given the low cost (1.5 €) I think it is worth trying.
I leave you a link to my device, which includes a captured image.
Good luck and success in your project.