Maybe people who get serious engine failures have done so after putting a bit of insulation tape over an "irritating light ?"
Fully accept that many warnings are false, but it's still a stupid idea to ignore an engine warning light on a three year old car for a year, in the belief it's probably nothing. If you're too tight-fisted to take your expensive car into a garage to get the thing checked, buy a second hand icarsoft OBD reader to read the code for yourself, and then resell the icarsoft afterwards. (Cost maybe £20)