2002 Chevy Corvette warning light for ABS and traction

Light for abs and traction control went on after I spun the wheels on a wet pavement at a light. I thought the warning lights was just a computer glich because the car seemed to act normally, until again on a wet day giving the car a little bit of gas going up a hill I did a 180 luckily no other cars near me. Brought the car to my chevy dealer the told me that the systems are connected and had to be replaced at a cost of nearly $5000. Would like to know if this cost seems reasonible. Would there any recall on this repair? Is this unusual for 37000 miles? Thank you john2