Oil Temp Sensor Relocate?

Another header related headache. Soooo typical here huh ? Anyway...
A long time ago, GM installed a single oil sender with more than one wire attached. It operated a warning lamp or gauge but also told the ECM "no oil, prevent start, hold check engine light on". When the engines got well worn and top end oil pressure dropped, that sender caused a lot of head scratching.
Since a gauge should report top end oil, these 2 signals really should come from 2 different locations. So.. My guess is there are 2 oil senders with separate purposes.
Vehicles, they are all the same just different.
If I'm correct and you find you could delete that sender, ( I look forward to learning here ), Your next question is "Should I ?"