The loop is a power source, a 4-20ma receiver, wire resistance, 4-20Ma transmitter, wire resistance and back to power source.
or
The loop is a power source, wire resistance, 4-20Ma transmitter, wire resistance, a 4-20ma receiver and back to power source.
Look at the extremes
1. 20Ma out what is min voltage needed across your 4-20ma transmitter.
2. 4Ma out what is max voltage allowed across your 4-20ma transmitter.
3. What Bandwidth of signals is supported.
With the limits set by #1 & #2 how linear is the change?
In real world all kinds of things happen.
V1 could be nice DC or could have all kinds of noise added. A long run could pick up a lot of AC power noise or other noise.
Think there is a need to look at more than just static DC