As Jon wrote we need to use the NPN configuration (see attachments). I tested the isolator channels in the following way:

1. I connected +15V from the power supply to the input(+) contact.

2. Signal wire from one of the digital outputs was connected to I1-4

3. When I set the digital output to HIGH, the LED on the isolator turns on.

4. I measure the resistance between O1-4 to output(-) and find it to be ~ 100ohm in the HIGH state and an open circuit in the LOW state, as expected from an open collector output.

Unlike the Acromag output, the isolator output is not pulled up in the LOW state. To do so we need to connect +15V to the output channel through a pull-up resistor. For now, I leave it with no pull-up. According to the schematics of the HAM-A Coil Driver, the digital output channels drive an electromagnetic relay (I think) so it might not need to be pulled up to switch back. I'm not sure. We will need to check the operation of these outputs at the installation.

During the testing of the isolator outputs pull-up, I accidentally ran a high current through O2, frying it dead. It is now permanently shorted to the + and - outputs rendering it unusable. In any case, we need another isolator since we have 5 channels we need to isolate.

I mounted the isolator on the DIN rail and started wiring the digital outputs into it. I connected the GND from the RTS to output(-) such that when the digital outputs are HIGH the channels in the coil driver will be sunk into the RTS GND and not the slow one avoiding GND contamination.