Wiring ET200SP AO Module to AI Module

What are PSV's doing?   Are they supplying a 4-20mA signal? 

Or are you trying to supply a 4-20mA signal to them?

Why have you not connected anything to the analog inputs on the AI module, instead using the HART monitoring terminals?

You can try wiring a current loop series circuit, which might work if
- the grounds of each device are close enough to not create a common mode ground loop problem
- the AO module has sufficient voltage to drive two 4-20mA current signals through the resistances of two analog inputs

No guarantees.

Overview:
Loop starts at AO output goes to PSV, PSV goes to AI input, AI input connects back to AO output.

1st loop specifics, channel 0:
Siemens AO ch 0 (+), terminal QI0+, wires to  PSV #1 AI input (+)
PSV #1 AI input (-)  wires to  Siemens AI Ch 0 (+) input, terminal QI0+
Siemens AI ch 0 (-), terminal QI0-, wires to Siemens AO Ch 0 (-), terminal QI0-

2nd loop specifics, channel 1:
Siemens AO ch 1 (+) terminal QI1+,  wires to PSV #2 AI input (+)
PSV #2 AI input (-)  wires to  Siemens AI Ch 1 (+) input, terminal QI1+
Siemens AI ch 1 (-), terminal QI1-, wires to Siemens AO Ch 1 (-), terminal QI1-

If there's a ground loop, then the current value won't be correct, even driven off scale.

If there's not sufficient voltage in the AO module to drive the total loop resistance, then the signal might only get up to some value, say 17.8mA and never get any further, might cause the AO source to error or fault.

The H terminals on the Siemens AI module are intended only for connection with a HART modem or handheld, not for permanent operation.

If the suggested series current loop does not work, then you need a splitter for each loop (a signal conditioning module that takes the Siemens AO c4-20mA urrent signal and splits it into two separate 4-20mA signal and isolates each signal).  One signal can drive the PSV, the other signal can drive the AI.