That is weird. I'm not sure how the traction control works in these cars, as mine does not have it. I know in modern cars like my mustang, when the traction control activates, it cuts the throttle (which is all electronic in that car) to reduce wheel spin. Maybe the system in your 92 uses the cruise actuator to physically cut the throttle when the asr activates? Of course, I could be completely wrong about that, but just a thought.
Then again, the cruise control is well known to fail, but usually it just doesnt work.

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Streetside: 1987 Mercedes 300E Petrol Blue/Green
2014 Ford Mustang Grabber Blue
1999 Ford Ranger Green

Dockside: 1968 Eltro 17
1985 Silverton 34C

Update : Found a vacuum leak at the line to the "timing control box" repaired and readjusted trans shift points-I'm not certain that this was only issue as the ASR (traction control) or cruise rod removal seemed to "fix" the dead pedal issue . However the linkage seems odd now with a bigger dead spot. My dealer friend who worked on the traction control said they made it one year and they "never got it right" . I will reattch th cruise rod and see it it removes the dead spot in the accel pedal.

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92 300e 205 k miles decent -wife's ride
91 300 TE many upgrades and very clean-Junk yard rescue ( son's "hot rod")
68 250 s Low rust great shape
91 300e 236k ( rear ended and sheared metal subframe mounts /sway bar )
85 300TD 310k

Below have moved on
77 300d 36k miles one elderly owner! Now in Ca fully restored
79 300 sd 49k miles( time capsule clean )sold and still in ohio
66 230s new at factory "das boot" gone.
93 190e 2.6 crunched-hard no injuries
69 220d rusted away