Be warned I had a similar problem on my 2006 CVO Ultra classic Electra glide with 103 engine. At 43,000 miles I had the same error, low/no presure on idol, warning light flickers, OK when engine rev up and under normal running conditions.
The dealer said it was the sender unit which they replaced. On way home, guess what? same problem once the engine had warmed up.
So back it went. On further inspection they found the Oil pump was cracked and the bearing housing near destruction. So all was replaced at vast expence.
This was in April this year, I then went from UK to Croatia to the HOG European event back via Italy up to Holland, total of around 3,500 miles, no problem.
I then put the bike back in for 5,000 mile service before my next trip from UK to Barcelona, Spain in July this year.
I got to Barcelona OK, 34 deg C heat, engine running at 110-115 deg, lot of stop start in traffic. Oil warning light flickering at idol, Ok on rev.
I put this done to the heat.
Got to Hotel Ok, bike coughing a little and cutting out. Left bike for 5 days not used until the return trip.
We got about 100 yards from hotel when this happend; See the link :
The bike arrives back in UK this Friday at the dealers. Don't yet know full cause, but I hope its the pump and bearings as this will equate to a warranty claim on HD, including the 740 UK pounds shipping cost of bike. Either way the bike is dead. Dealer in Barcelona estimated repair cost of around 6-7000 Euros.......
So my advice, get the pump and bearings checked out. otherwise this could happen to you!
I will know more next week.
Fortunately, this was my second bike as I purchased the new Road Glide Ultra this year.
Good luck.