Missed part of that. Sorry.
I have my sensor in the same location. You're low on oil pressure. You might have a oil galley failure. The only sign that it failed is low oil pressure. or when the engine starts to eat it's self. The warning light doesn't come until 5 to 10 psi. After it's too later.
Here's a thread I started about oil pressure.
Observed Oil Pressure with a gauge