;WITH ChildrenAndParents
AS
(
SELECT
parent_object_id AS object_id,
convert(varchar(255),OBJECT_NAME(parent_object_id)) AS child,
referenced_object_id AS referenced_major_id,
convert(varchar(255),OBJECT_NAME(referenced_object_id)) AS parent
FROM   sys.foreign_keys
)
,GroupMembers (Child, ParentGroup, Level, hierarchypath)
AS
(-- Anchor member definition
SELECT	g.child, 
	g.parent, 
	0 AS Level, 
	convert(varchar(max), g.child + '->' + g.parent) AS hierarchypath
FROM ChildrenAndParents AS g
WHERE child not in (select parent from ChildrenAndParents)
UNION ALL
-- Recursive member definition
SELECT	g.child,
	g.parent,
	Level + 1,
	hierarchypath + '->' + g.parent          -- Add '-->...' to end when recursion found
	 + Case When gm.hierarchypath like '%->'+g.parent+'->%' Then '-->...'
		Else	''
		End
FROM ChildrenAndParents as g
INNER JOIN GroupMembers AS gm
ON gm.parentgroup = g.child
--Exclude if the hierarchypath text contains a recursion
where gm.hierarchypath not like '%->...'
)

select left(hierarchypath, charindex('->', hierarchypath) - 1) as child, parentgroup, level, hierarchypath
from groupmembers
option(maxrecursion 20);