Connect three wire 4-20mA sensor to

We have a " Industrial IoT Wireless 4-20mA Current Loop Receiver" the specs indicate that " Supports Active Two Wire 4-20mA Devices " but is there ANY way we can connect an ultrasonic sensor with the following specs (three wire):

  • Black wire - ground return for the DC power supply
  • Brown wire - 4-20mA signal output
  • Red wire - Vcc input (10 to 32V with a maximum draw of less than 70mA)

It is an ultrasonic sensor that has a quick response time after power up.

I am confused with this link:

It shows the M12 connector but does not explain in more detail how these wires CAN be used:

M12 Connector Connection

  1. VIN-
  2. VIN+
  3. 4-20mA+
  4. 4-20mA-
  5. DNC

So if I have a three wire 4-20mA sensor can I use this M12 connector from my Current Loop Receiver to power the sensor via the two power wires (wire 2 and 5) and feed the 4-20mA signal to the 4-20mA wire (wire 3)?

if you have 3 wire device you will need this transmitter