The old Good News Bible has an interesting paraphrase of this verse.
(Proverbs 5:16 GNB) Children that you have by other women will do you no good.This is perfect example of the problem with a paraphrase and the blessings of a paraphrase.
The problem is that the text does not say this in any way shape or form. The Hebrew speaks of “fountains” (springs NASB) (4599) and “rivers” (streams NASB) (6388) of “water” (5140) not of children. The good side is that this is a good insight based on the context of sexual promiscuity. When I read this I said, “Yes. That is what Solomon is hinting at.” And I groaned because this is commentary not translation.
It applies today to our culture. With the soaring numbers of children born out of wedlock and single mothers we should stop and think.
So? I would hope you are not jumping from sexual partner to sexual partner. If you are you need to realize that you may be leaving some little drops that can become disastrous floods in the future. Morality has a reason.