Symptoms
Smartactions not working since ServiceAccount mailbox moved to Exchange 2016
Diagnoses
When you have upgraded your exchange server to 2016 against K2 4.6.11, when using smart actions these are failing to send will it be possible to assist here ?
Resolution
It appears that Exchange 2016 is only supported with K2 BP 4.7. as stated within the support matrix.
You will have to upgrade to 4.7 to use this functionality or better yet revert back to exchange 2013.