We build a standalone SharePoint server 2016. Can we install Workflow manager on that server or it has to be on a separate server\machine?
Are there any known issues installing workflow manager on same server?
You can install the WFM on same server, I have that setup in my dev farm.
But make sure the You are on supported OS version for WFM (which is Windows Server 2012 r2) and also SQL server 2014(SQL server 2016 not supported yet).