In Windows NT 4.0, you could not run 16-bit programs on removeable media that contained the boot and system files. You would receive:

Config.nt. Hidden console of WOWVDM config.nt the system is not suitable for running MSDOS and Microsoft Windows applications.

In Windows 2000, you can install on a removable drive and the Windows NT Virtual DOS Machine (NTVDM) will run 16-bit programs.