PCIe x16 to PCIe x4 riser card

A x4 device should work in a x16 slot it will just ignore the unneeded connections that it isn't equipped with there is no need for what you're trying to do. The x4 is probably just a minimum requirement. Also quite frequently slot size does not always correlate to the connection speed. x4 slots are commonly the same length as an x16 slot with only the connections for x4.
 
also, a 16x device will work in a 4x or less. Just cut off the end of the slot so the video card will fit. I put a AMD 5830 into a 4x slot on an HP ML350 server and it worked fine. I also use 16x to 1x pci extenders for my mining.
 
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