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Hello Piotr,
Yes this is possible.
Of course, you can define the IO so it is a 4-20mA.
The reason why 4-20mA exist instead of 0-20mA is because then you have a very define area 0-4mA where you have “0”.
Imagine a Motor Driver controlled with 0-20mA … and for some reasons you have 0,1V on the line or 0,2V … not perfectly 0,0V … then the motor controller could think that he should drive with 0,5-1%. So, you define a very clear area 0-4mA where the motor driver is at 0%.
Regards
Marco