Did you hook-up oil pressure sensor correctly? Was the oil pressure sensor new? Can you install the old oil pressure sensor? and see if the problem goes away. If the pressure is sensor is ok, then it maybe a sludge issue.
The sludge is really not the sludge that we all think of, it is the clogging of the oil pick-up screen on oil pump due to carbon / coke deposits. I am not sure if you can really see the pickup tube screen thru the oil drain hole or oil sensor hole unless you are using a borescope. To make sure that you have oil pressure, connect a cheap oil pressure gauge where the oil pressure sensor goes and check the pressure reading. I am sure somebody will chime-in for the correct oil pressure. Do not drive your car in this condition, you may damage the engine. You best bet is to drop the oil pan and replace the oil pick tube at the very minimum. What year is your A4 and how many miles? 2002 with over 80K miles?
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