The main benefit to the F16s is that they have radar and detection abilities comparable to the aircraft they're up against. In warfare between aircraft a lot of it comes down to who sees who first and that typically happens many kilometers out.
The aging soviet junk that the Ukrainians are flying have essentially half the detection range as the newer Russian stuff.
But yeah, the time to give them F16s was back before their planned summer offensive. Hesitance by the Biden admin has cost Ukraine the initiative they had. The jets won't turn that around on their own.