Currently we use we use postgres version 14, while the upstream one is 16.

One reason to upgrade is performance improvements (https://rmarcus.info/blog/2024/04/12/pg-over-time.html):

If we regress the PostgreSQL major version number against query latency, we see that each new major version of PostgreSQL brings, on average, a 15% performance improvement on the Join Order Benchmark

I am aware that upgrading requires DB upgrade which can be bit cumbersome (dump in old postgres version, bring new postgres up, restore with new postgres version) but it can be considered a good camp for practicing such db upgrades :)