I was in about your boat 30 years ago. A few years out of college. Could also still run about a 16 minute 5k without running 60-80 mpw.
I too took up biking.
First off, riding 16mph is not difficult. Maintaining it over 28 miles can be depending on the course (lot of hills, lots of turns, good or bad roads), the wind, and your bike. It kind of depends on if 16mph is their average speed, or their typical cruising speed.
If they are averaging 16mph on a course with lots of sharp turns, then that can mean their causing speed is actually around 18-20mph, which could be more difficult the first time out.
Additionally, running and cycling use different muscle groups. You will hurt in places you are not used to hurting.
Finally, riding in a group could present issues. You'll need to learn riding etiquette. It's stricter than running. No one wants to crash because another rider did something bone headed.
I'd suggest some solo rides first.