Good day,
So the issue is simple: server crashes on startup (terminal appears for a sec).
Downloaded from official forge server page. No modifications made/no mods installed, EULA set to "True", Java 8 v281.

Tried to launch directly via cmd, output:
https://pastebin.com/yw4qGjE2
Debug.log:
https://pastebin.com/R3m8vZnW

I have already tried to:
Update Java (281 is the latest, I had 251)
Reinstalled the server
Tried to launch from cmd with admin rights
Checked env. variables for Java (updated too)

 

Edited March 11, 20214 yr by MustDy

Via installer - forge-1.16.5-36.0.48-installer.jar
(path: S:\Program Files\MinecraftServer)

I have tried to launch it in 3 ways:
Directly by double click
Via .bat file (java -Xmx4096M -Xms4096M -jar forge-1.16.5-36.0.48.jar)
Via cmd, both with and without admin rights.

Tried to install to S:\MinecraftServer.
As far as I could see, result is the same. Cmd output (non-admin):
https://pastebin.com/BbwSkmUA
Debug log:

https://pastebin.com/HjJPnuHx

Also, have to mention that minecraft server, non-forge, starts as expected and I could connect to it.

Okay, I just asked for 'libraries' folder from my friend, whose server was working, and mine launched as expected. 
No idea why in my case installation was missing something, as it was providing 'success' status. 
Anyway, seems like you were correct - some libraries were missing. 

We could close it)