Prince
Have you tried all the usual things - reset from STEP7, reset from switch on front of CPU, power-cycle it (with and without memory cards) etc.? Does it still show these symptoms? You say this is one of your S7-416DPs. Can you swap it with another and see if the problem follows the CPU or stays with the rack, power supply and I/O?
If none of these things work, it may well be faulty. Is it in warranty period? Get a replacement. Is it outside warranty? Buy a replacement.
Reason for fault? Who knows. Reason for tragedy? It costs time and money to replace faulty equipment.
Ken