In that case it may be the "proportioning valve", which is really the pressure differential valve. It is really just a piston that is moved one way or the other if there is a pressure differential between the front or rear system. And if it goes to one end or the other it grounds the lead to the warning light.
Usually the valve itself doesn't go bad, although I have had them stick. But what usually happens is that the pressure does fall in one end or the other. It could be that you have air in the system. Or low fluid levels caused by a leak. Or, a bad master. But an intermittent warning light is probably not the valve.
Gary, AKA "Gary fellow":
Profile
Dad's: '81 F150 Ranger XLT 4x4: Down for restomod: Full-roller "stroked 351M" w/Trick Flow heads & intake, EEC-V SEFI/E4OD/3.50 gears w/Kevlar clutches
Blue: 2015 F150 Platinum 4x4 SuperCrew wearing Blue Jeans & sporting a 3.5L EB & Max Tow
Big Blue: 1985 F250HD 4x4: 460/ZF5/3.55's, D60 w/Ox locker & 10.25 Sterling/Trutrac, Blue Top & Borgeson, & EEC-V MAF/SEFI