Yes. An eligible driver can use either of the 16 hour exceptions in 395.1(o) and 395.1(e)(2) after a 34-hour restart.
To use the 16-hour exception in 395.1(o), the driver must have returned to the normal work reporting location and been released from duty at that location for the previous 5 duty tours the driver worked, regardless of whether or not the 34-hour restart provision is being used.