Think of the PSI as being a measure of resistence to flow.
Closed valve=total resistence, maximum pressure reading on guage.
Single small upholstery jet=high resistence to flow and high guage reading on open valve.
Floor wand with high flow jets=minimum resistence to flow and low guage reading on open valve.
If the open valve readings are lower than they should be, there is a fault or obstruction somewhere. This could be in the wand valve or possibly detergent residue build up, especially if powder detergents have been used. I used to encounter this myself with my Flojet/Shureflo pumps, so just ran some very hot water through the pump which solved the problem.
Most likely cause is wear in the internal pump components. A service should cure this. The two service kits required for a Pumptec pump cost me about £75 last time. More if you need a new cam/bearing kit. Labour is extra, plus Vodka And Tonic.
When all is repaired and working well, may I suggest recording flow rates through your wand and other tools at certain pressures. You will then have a reference point for the future.
Safe and happy cleaning
The Ken