Hello, what BIOS version are you on? Also can you make sure you are using a Dell part? It has to be this.

BIOS was updated thru Lifecycle, it's 2.16.0. Regarding the CPUs, I purchase them from eBay. Is there a E5-2697 v4 that is Dell specific?
I am thinking that it might be an issue more related to the motherboard. Could it be that R530 was shipped with different motherboard versions, and mine could be older and not support this CPU? 

Sorry, I can't edit my previous message. Just to add few details:
- the server post just fine with 2 x E5-2650 v4
- the heatsink p/n is 08XH97. Can't find details about max W this is supposed to handle (E5-2697 v4 is a 145W CPU)
- the motherboard p/n is 03XKDV

If you have access to iDRAC can you check logs in iDRAC (Lifecycle Log and POST logs) and see whether it have any information on failure. 

Can you also try to boot the server with Minimum to POST configuration. Minimum to POST configuration is the configuration that has the minimum components required to complete POST. Typically, the minimum to POST configuration is PSU1, CPU1, memory module in A1 slot, and the default riser without expansion cards.

Hello, this is the heatsink you are using:

There is no info in the logs related to this. I included below the Log, as you can see (from bottom to top) the system booted with one CPU and I shutdown the server. Then I added the second CPU and restarted (Sat Dec 17 2022 21:54:31)

Sat Dec 17 2022 22:16:45 Power supply redundancy is lost.
Sat Dec 17 2022 22:16:41 The chassis is closed while the power is off.
Sat Dec 17 2022 22:16:35 The chassis is open while the power is off.
Sat Dec 17 2022 21:54:41 Power supply redundancy is lost.
Sat Dec 17 2022 21:54:36 The system board Intrusion cable or interconnect is not connected, or is improperly connected.
Sat Dec 17 2022 21:54:31 The chassis is open while the power is off.
Sat Dec 17 2022 21:51:05 OEM software event.
Sat Dec 17 2022 21:51:05 An OS graceful shut-down occurred.
Sat Dec 17 2022 21:48:28 OEM software event.
Sat Dec 17 2022 21:48:28 C: boot completed.

At the same time, in the Lifecycle Logs this is what I have:

As I said, I tried each CPU installed as CPU1, with minimum configuration, the server boot correctly. 

The only thing I haven't tried yet is to install these 2 CPUs in a different server and see if it boots correctly. I have a Dell T7910, but this is a workstation, not a server; not sure if it's the same thing as testing them in a server.
Could it be that the 2 CPUs are not compatible with each other? They are not a matching pair, but I had no issues so far with any other Xeon CPUs. 

Thank you!

Thank you @DELL-Chris H for clarifications! Yes, the server works fine with a dual E5-2650 v4, but I was not aware that the 2697 v4 is not on the list of supported CPU. Can you please share a link / document with the list of supported CPU for R530?

Catalina7504,

I am referencing internal documentation, but normally you would be able to find available parts listed here.

I checked the data sheet listed below, and that indicate that a Dual Xeon v4 18 cores configuration should be supported. Is the E5-2695 v4 or E5-2686 v4 (OEM) supported? 

Intel® Xeon® processor E5-2600 v4 product family
Processor sockets: 2
Chipset: C610
Internal interconnect: up to 9.6GT/s;
Cache: 2.5MB per core; core options: 4, 6, 8, 10, 12, 14, 16, 18

Dell-PowerEdge-R530-Spec-Sheet.pdf

From the link you provided, only few CPUs are available (maybe these are the only one available for sale) and the most powerful is a E5-2680 v4.