I would think if it's a true fault, it would set a code and the light would stay on.
Do you have an oil light and the oil pressure gage? If not, unhook the the plug going to the pressure sending switch located just behind the pushrod tube on the right side and see what happens.

 

Yes I have the gauge and the check engine light I will try that a d see

 

Still do not quite under stand what you are saying here and I cannot tell in the service manual how it all works. Appears you only have one rheostat type sending unit. My guess is if you have a separate oil pressure light, you would have another sender or the rheostat one would have more then the two wires your's shows on the rheostat in the manual. My bike has a yellow check engine light and a separate red oil pressure light.

 

that is a great resource, thanks for posting!!