We called Rockwell about this several months ago before they had started recommending downflashing. They said it's caused by "excessive network traffic." Well we ended up wasting a bunch of time diagnosing with Wireshark and disabling various network comms, only to find that it didn't help. In the end Rockwell told us to buy their non-embedded ethernet card for Powerflex 750-series drives to fix the issue. I suggested flashing down to version 14 and they said "yeah that might work." Lo and behold, it sure did. No purchase necessary.
So as I see it you've only got two options: buy a new card (~$500) and wait for it to arrive, or downflash, which takes about 15-30 minutes.
Why is your boss so resistant to it? Can he point to any benefit that version 16 gives over version 14?