Can PSE 16 Read Pse 12 Catalog

If I build a new C drive and load PSE 16, can it read the current catalog I have on my current D drive without doing a catalog restore?

Just to add to what Michel has said, if the catalog folder was on the D drive, you can install a newer version of Elements and it will convert the old catalog to the newer version too.  (It may even do it automatically.  But maybe not, since wherever it gets the information from to figure out where your last used catalog is stored was probably lost when your C drive died.  That depends on how you are restoring the drive.)

There is no PSE16, I assume you mean PSE2018 which is version 16...

"The catalog is on the D drive"

Do you mean the media files (the library) or the catalog folder, or both?

 (I do have the catalog backed up with about 24000 pictures)

Does it mean you made a full backup from the organizer and stored the backup folder also on the D drive?

If the catalog folder was on the lost C drive, you'll have to run a restore anyway. If it was together with your media folder tree on D, then it is ready to work with PSE12.

If you want to open that catalog with a more recent version, it has to be converted.

A restore on 'custom location', that is not in the default hidden location on the C drive will restore both the catalog folder and the media folders tree on the new custom location, which is a folder of your choice generally on a different drive or partition.