I just had that same "well similar" issue & fixed it with Diesel Turbo cleaner 500ml Nulon brand to 40L fuel, and a new solenoid.
My solenoid was previously ancient & i also have over 300k however i dropped hard plastic snapped vac hose connector accidentally into my turbo & couldn't find it.
It made the impeller be stuck & i had to free it up with a small screwdriver for 30minutes & rev the **** out of it with the over the top of the motor vacuum plugged directly to the actuator, which in my case Gave me full boost.
I reckon i killed the old solenoid driving around revving the sh*t out of it getting similar max of 3psi like you.
Eventually i got it up to about 5-8psi once even about 10psi, totally revving it but in lower gears, it got better during the cleaner working & as the turbo was able to be forced to be spun the more i drove it around.
This was so not fun!
The turbo actuator arm was not bobbing up and down at all lile it was supposed to while i was trouble shooting. I think i mostly cleared the plastic crap n it probably turned to dust or gum, my Navs fixed.
But
The turbo even with the new bc solenoid took about 500km of drives every day to get back to a healthy 15-17psi, and i used to see 21-22 and it hauled better. Way better.
I reckon i am still operating at partly engine power, and my economy was excellent before my issue i caused
then went to hell in a handbasket while running with no/low boost, or full actuated feathering turbo on high boost (i got a boost guage) to avoid over boosting over 20-25 or so,
I blew so much brown gray smoke from the turbo cleaner!!
Careful to have the turbo cleaner on u while its going thru cleaning in case of being pulled over, it just smogs the whole highway that cleaner stuff & uses so much extra diesel it costed me a small fortune.
Now i have it cleaned, smokes mostly all gone and burned away,
I hit 17psi sometimes, i got 85-90 percent of my boost back & new vac lines and a metal cold air intake vacuum connector instead of stock plastic so it can't be snapped ever again leaning across the bay to tighten up hot pipe clamps to avoid false mini random limp modes with no codes i was getting because i had 'even very very slightly' leaky boost hotpipe / intercooler etc clamps.
I got a solenoid on eBay $25 cheapest one, fixed immediately, seems solid, people here say thats fine to use.. i am thinking of buying 2 or different ones plus dawes/tilix so i can see which bcs works better if any differences in performance, or if i fit the tillix to get back my extra at least faster spool by the boost coming on bit slightly earlier, whuch for me in turn might even help clean out my poor clogged turbo which i drove last night & found after a few days of only short shopping drives & sitting alot it felt kind of cloggy again.
Look into videos/forum posts about sticky or stuck actuator arms or failed actuators.
You may have that mate if your new bcs doesnt solve it. Hopefully it isn't a stuffed turbo impeller or other exhaust part, but if your making 3psi like i was i'd be looking at if theres sticky atuck or failed actuator or arm, whole lot cheaper than a turbo replacement.
If your lucky its just one the 3 vacuum hoses cracked.
Certainly check if the turbo spins freely while running with yr cold air pipe undone so u can see and get at it. See if the actuator arm is bobbing up n down like it should. See if the actuator arm goes all the way up immediately when u plug in the over engine vac to actuator directly.
Replace all vac hoses if old, even especially that over engine one coming from the d/s of motor under the engine cover.
Could be just that!
Eliminate the variables!
Hope u sort it out.
such an unfun problem to have.