Nope.
For multi-core CPU loads, A16 5-core will still be a bit faster than A14 6-core.
However, for single-core CPU loads, A16 5-core is much faster than A14 6-core. Like 30% faster - no contest.
For most iPad workloads, single-core will have more impact on perceived performance than multi-core, but as mentioned, A16 5-core will still be a bit faster in multi-core anyway.
But as mentioned again and again, these machines are not CPU-bottlenecked anyway. Much more important for the iPad 11 is the doubling of base storage, and potentially a 50% increase in RAM (to be confirmed).
iPad Pro has M4.
I suppose you mean iPad Air, but it makes zero sense from a marketing perspective to put M4 in the iPad Air at this time. It doesn't need it anyway. In fact, iPad Pro doesn't need M4 either, since the main limitation is the OS.