Step 1: Simplify the given equation.
The given equation is:
\[
y = (\sin^{-1} x)^2 + (\cos^{-1} x)^2
\]
Using the identity \( \sin^{-1} x + \cos^{-1} x = \frac{\pi}{2} \), we get:
\[
y = \left( \frac{\pi}{2} \right)^2 = \frac{\pi^2}{4}
\]
Step 2: Differentiate the equation.
Now, differentiate \( y \) with respect to \( x \):
\[
\frac{dy}{dx} = 0 \quad (\text{since } y = \frac{\pi^2}{4} \text{ is constant})
\]
Step 3: Second derivative.
Differentiate again to get the second derivative:
\[
\frac{d^2y}{dx^2} = 0
\]
Step 4: Substitute in the given expression.
Now, substitute the values in the given expression \( (1 - x^2) \frac{d^2y}{dx^2} - x \frac{dy}{dx} \):
\[
(1 - x^2) \cdot 0 - x \cdot 0 = 0
\]
Step 5: Conclusion.
Hence, the value of the expression is 0. Therefore, the correct answer is:
\[
\boxed{4}
\]