Yes, it would. If it failed outright, it should also light up the ABS light in the dash.

To eliminate this as a possibility, I swapped the OVP w/ a know good one and still had no voltage.

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Currently:
1972 350SL Euro 4spd
1973 BMW R75/5
1981 BMW R80GS
1995 FZJ80 with OM606 Conversion In Progress