I assume that these VMs are running on a single ESXi host with 32 cores? Are these 32 physical cores, or is it the logical CPUs, i.e. Hyperthreading enabled CPUs?
From a first look at this, 16 vCPUs indeed seem to be much, but without knowing the requirements it's impossible to say whether it's too much.
VMware usually manages resources very well, so that you should not get in real trouble with such a configuration. From my personal experience, it's usually not the CPU load which is maxed out with Terminal Servers, but the memory usage.