A CO2 cylinder, when full, is full of liquid CO2 at very high pressure. As the CO2 is used, the liquid will evaporate into CO2 gas, filling the headspace of the cylinder and keeping the same pressure.
That pressure is also directly tied to the temperature. A full CO2 will read lower at fridge temps than it will at room temp. The volume of gas isn't any different, just the pressure of the tank.
When the liquid CO2 (the actual fuel source if you will) is entirely evaporated and your cylinder is literally running on fumes, *then* you'll start seeing the high pressure gauge drop. It's basically imminent failure. May be enough to *serve* a keg. I wouldn't trust it to carb.
The direct answer to your question would depend on the temperature of the CO2 tank, the amount of beer you're carbonating, and the level you're carbing to.
It could be mathed (don't know it off the top of my head) given enough information.