If you want a consumer SSD that's at least 12TB? I honestly don't know of anyone specifically talking about that. Even 8TB drives remain a relative rarity, with the WD Black SN850X probably being the best of the bunch right now (TLC plus decent price). Given the rate of change, which has clearly slowed down, I don't anticipate seeing 16TB or even 12TB consumer drives coming out any time soon.
Which means you're basically stuck looking to enterprise drives, which are available in much higher capacities but also cost a lot more. And they're not available in M.2 form factor, not surprisingly. You need either U.2 or the data center E1.S or similar connections.
The reason 16TB likely isn't coming any time soon in M.2 form factor comes down to power, price, and demand. The demand for non-data center use remains very niche. That means price has to go up. But the real issue is power. 8TB M.2 SSDs can average 8W or so of power, and M.2 can only sustain 11.55W. Doubling the NAND potentially increase power quite a bit. I think the controllers are probably using up to 5W, and everything else would be in the 3~5 watts range as well for an 8TB drive. Spikes in power draw can go much higher than 12W, but they're only allowed for very short durations (milliseconds) and are undesirable.
If you have 16TB of actively used NAND, for writes you could probably see sustained power use of 15W or more. We'd need power use of the NAND packages to come down, and that isn't really happening — NAND is going for more layers rather than smaller process nodes, with power remaining relatively constant AFAICT. QLC also tends to use more power on writes than TLC, due to the increased complexity of managing 16 voltage states rather than 8.
TLDR: You're probably going to need to come to grips with using RAID if you want a volume with a higher capacity. And I understand all the concerns with going that route, but I just don't see anyone really trying to get around it. If you can use data center drives, that's also an (expensive) option.