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Our company is moving from SQL Server 2016 on prem to Azure SQL Managed Instance. Is it possible to install Power BI Reporting server to Azure SQL Managed instance? If yes, will both Power BI and SSRS reports work? Any tips and advice on how to setup this correctly will be greatly appreciated.
You could consider Power BI. Then you no longer have to install and own a PBI Report Server. https://docs.microsoft.com/en-us/power-bi/paginated-reports-report-builder-power-bi
Issue is that we still need to keep some databases on premise, plus using Power BI service has a higher cost (on prem PBI is already covered in our SQL Server licensing). Seems like Microsoft is pushing everyone to the cloud and in the process ignoring a lot of customers who don't want or can't at the moment move to the cloud. Also, currently I don't think you can run SSRS reports on Power BI Service, so you need to have a PBI reporting server installed.