A 195/55/R16 is only slightly shorter (-0.3") and should fit on the 5.5" rim. Basically when your speedometer reads 65mph, you would actually be doing 64.22mph. Not a big difference at all. There are several tires available in 195/55/16.
Edit: I would like to note that if you are only replacing one tire (and not a set) I am not sure if the shorter tire would mess with the TPMS since it compares the diameter of each tire. But if replacing a set, should be no problem.
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