I installed cheap gauges in 503 when I owned it. Prosports. Total garbage. I think I had to replace the oil pressure sender like three times. After that, I just pulled it out and left the mechanical boost gauge in it.
I don't know how high quality the sender is for your Innovative gauge, but that's probably where the problem lies.
FWIW, zero issues with my Defi Link oil pressure gauge in 1051, but there better not be when the damn sender alone costs over $100.