Sorry, I have the same problem on Mac, followed the instruction but it didn't solve it... But with OS 10.12.4... Any more suggestions?
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I had an Error 16 problem on my Mac and here is what helped:
Copy and paste this command: sudo chmod -R 777 /Library/Application\ Support/Adobe
Press Enter and enter your password if asked. It should fix the permissions and allow you to launch your apps.
To be sure the problem wasn't on my disk I did a repair on my SSD disk. And after rebooting, the problem disappeared. Problem solved for me!
First I ever heard of that, but glad it's fixed.
I guess the repaired did fixed the permissions issue for the folders required.