The sudden reduction of oil pressure could be explained by a common o-ring displacement at the end of the oil delivery tube output from the oil pump. I can't envision a connection between oil pressure and crankcase ventilation pressure which you'd see as an oil leak around seals, oil dipstick, cam cover, and of course, that aftermarket oil separator.
Rough running is often a vacuum leak. Stalling when wet has so often been a distributor cap in my experience, followed closely by a worn old set of ignition wires.

A '90 240 doesn't come with an oil pressure gauge, and its stock warning switch is set at 0.5 bar (7 psig) so your added gauge sender is always a suspect tracking over long term, especially as to the 4.5 bar history.
What is the oil maintenance history? Filter change affect the trouble?

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Art Benstein near Baltimore
Nobody sees a flower - really - it is so small it takes time - we haven't time - and to see takes time, like to have a friend takes time. - Georgia O'Keeffe
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