CD4017, driving 10 small Fet's can provide 10 channels of 1/10 duty cycle and costant current on DC bus as required. Fet's, dont need to be of high voltage. If led is of 3.6V then 3.6x40=144V. For remaining 160-144=16V drop, a series resistor can also do the job. Put fet in -ve side with a series resistor. Resister value will be 1/10 times less than normal. If DC bus is not constant and current need to be monitored, SG3525 with two Fet's can provide two channels. A resistor in ground loop can sense current.