Question details:

I need to install a game that needs 256 bit of colors but my color bit only shows 16 bit, what do I do to change to 256 bit of color?

Answer

You can't get more colors than the maximum number shown in your Display Properties. Maybe if you update your driver with the latest available.

We think you reffer to 256 colors and not 256 bit color. The game you install should work if you have 16 bit color. If you have just 16 colors it will probably not work.