First get another pressure gage and check it against the one you have. You'd really hate to pull your engine and find out the gage went bad (and they can do that).
If it really shows 10 psi at 4000 rpm and the oil level is normal then you've either got a pump that went bad or you have developed some serious clearance openings in the engine. In either case you had better tear into it. YTou don't want to drive it under those conditions.
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