Oil light and gauge

Replace the sending unit or have a mechanic install a temporary mechanical oil pressure gauge to be sure there is good pressure. If it is low, there are bearings that can be bad but for oil to get to them it would have to flow through the crankshaft and connecting rod bearings first so they would at least be getting oil flow. Usually with no oil pressure the lifters will bleed down and the valve train will rattle and make a lot of noise. My bet is on a defective sending unit. When the diaphragm ruptures, they usually leak oil too through the electrical connector.

Caradiodoc