Before we jump to a pump let's confirm this is an accurate oil pressure reading when this is happening by hooking up the mechanical gauge and check it.
Here is a guide that will help with causes of low oil pressure which will help:
https://www.2carpros.com/articles/high-or-low-engine-oil-pressure
Below you will find the process from the manual to test the oil pressure.
If this is accurate then yes, the pump is failing. However, if this is not accurate then you have an issue with the sensor or connection when the engine is hot.
Please run through this info and let us know what you find on this, and we can go from there.
Thanks
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Tuesday, December 28th, 2021 AT 6:58 PM