Probably a wiring fault. I'm not sure the sensors can wear out. Clear the faults and try again, see what happens. And I don't think it would lead to gearbox faults. But could effect the ESP settings. Try turning the ESP off and see what happens.
right i hope this is going to be a sencerblle chat had it on a star machine said failed left and righ wheel sencours gear box when hot jumps and slipps in gear but inkly when hot when i get home from work on sat its going back to have codes read again thinking of saveing some money by fixing the fault but thinking noit normal for 2 to fail ???? so am looking to see where they are located and where the loom goes if thats any help
nope i and dead kean on tyres just when hot id plays about but trange the wheel sencors not getting a siganl as i no these control the gear and road speeds