I have done this with a 22 x 18 Yamaha Maple Custom bass drum, had it cut down to a 22x14, and I love it.
I don't think cutting it down to a 22x16 is worth the trouble of having it cut. Yes, a 22x16 is easier to handle and still has plenty of boom, but I say of you're gonna go there, then really make it worth your while.
First thing - absolutely find a friend or a drum shop or a rental or some way to try out a 22x14 first, to be sure that you like this new size - the punchiness, the quick response, the feel, etc.
Does your bass drum have a mount ? Because if it does, and you take the 4" off the batter side, that mount is now 4" closer to your new batter. That might make the mount unusable - because the tom(s) would be way too close now.
This is what I did, but I knew this going in - I simply got a Yamaha custom mount plate cover from Drummerworld's SoCalMike , look him up. Removed my mount, added this plate...looks great, and sounds perfect. Added benefit of being MUCH easier to put in the back seat of any vehicle - and no more smashing fingers in doorways!
If you have a mount and decide to take the 4" from the resonant side, you will very likely run into issues with the spurs and their mounting holes. Check that stuff out carefully. Get some low-tack painters tape and tape all this out so you can easily see where things go ...new lug locations, vents, mounts, spurs, etc.
I have absolutely no regrets, I love the 'new' bass drum (did this years ago) 22x14 is the perfect all around bass drum size for just about anything. The vintage builders got that size right IMHO.