The requirement for v1.16.3 means that players who are still running older versions of the game will no longer be able to access online multiplayer, matchmaking, and other features. This will inevitably lead to a fragmented community, with some players being forced to upgrade to the latest version, while others will be left behind.
Steam uses "appmanifest" files to track versions; if these are out of sync, CM may believe your installation is "obsolete" even if it is technically current. assetto corsa is obsolete v1.16.3 is required
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Sometimes the game needs to finalize an update through its official channel before third-party launchers work correctly. Close Content Manager. The requirement for v1