I don't see anybody jumping to answer this, so I'm going to turn my comment into an answer despite not having a complete solution to this. However, the poster is asking about the standard error of measurement in a non-item response theory (IRT) model. Because he or she is referring to a continuous response, I have to assume the indicator variables are Gaussian, and that this is an application of linear structural equation modeling.
IRT models take binary or ordinal items (i.e. questions). Each item provides some information about the latent trait. For example, in a 2-parameter logistic model, the $i$-th question has this information function:
$I(\theta) = a_i^2p_i(1-p_i)$
where $p_i$ is the model-estimated probability of responding correctly to the $i$-th question at a certain level of $\theta$, and $a_i$ is the question's discrimination parameter. The entire test's information function is the sum of all the individual item information function. Then, the standard error at any given $\theta$ is $SE(\theta) = 1 - \frac{1}{\sqrt{I(\theta)}}$.
Now, information is the Fisher information. All we need is the Fisher information for each item in the linear SEM case. Unfortunately, that is beyond my ability* to provide. I think it's the expectation of the first derivative of the log likelihood with respect to $\theta$. Can anyone else provide any insight?
A possible alternative is this: I know for sure that Stata will estimate both the value and the standard error of each observation's latent trait. I have to think that R packages like lavaan
have to do the same (but I haven't tried this in lavaan
). You might be able to plot latent trait vs standard error. In IRT, this may not work as well, because there are going to be a finite number of predicted latent trait values and the graph will look a bit chunky. If you genuinely have continuous indicators, you may have a finer distribution of the latent trait estimates.
As a side note: Stata gets around this by creating a simulated dataset with 300 values of $\theta$ from -4 to 4, and then calculating item and test information at each value of $\theta$. I've basically replicated this process to produce a graph for a non-standard IRT model. I believe that the R package mirt
may do something similar.
*See what I just did there?