Transmission overheating

This light comes on when the transmission is overworked, fluid level is low or the sensor that monitors the fluid temperature is bad, or the instructions cluster is having an issue cluster. I would think the sensor is bad if the fluid level is okay which is most common but to be sure we can do a CAN scan which is easy to do please go over this guide and video to show you how and I have included and here are two guide to help you check the fluid level as well:

https://www.2carpros.com/articles/can-scan-controller-area-network-easy

and

https://www.2carpros.com/articles/how-to-check-and-add-transmission-fluid

The PCM continually monitors the transmission temperature sensor to determine the transmission operating condition. The PCM then sends the proper lamp-ON or lamp-OFF message to the ElectroMechanical Instrument Cluster (EMIC) (also known as the Cab Compartment Node/CCN). If the instrument cluster illuminates the transmission over-temperature indicator due to a high transmission oil temperature condition, it may indicate that the transmission or the transmission cooling system are being overloaded, or that they require service. For further diagnosis of the transmission over-temperature indicator or the instrument cluster circuitry that controls the LED, Refer to appropriate testing.

For proper diagnosis of the transmission temperature sensor, the PCM, the EMIC, the CAN data bus or the electronic communication related to transmission over-temperature indicator operation a diagnostic scan tool is required. Refer to the appropriate diagnostic information.

Here is the temperature sensor location if everything checks out so you can replace it. This sensor integrated into the range position sensor. Check out the diagrams (Below). Let us know what happens and please upload pictures or videos of the problem.

Usually, the high-pitched noise is because the filter is clogged up inside the transmission pan but if you upload a video of the noise I can tell for sure. Is the transmission leaking at all? I am not sure which solenoid you are talking about? They say there is a dipstick. Here is how you change and check the fluid level in the diagrams below:

A/T Fluid Type. Mopar ATF+4, Automatic Transmission Fluid
Capacities

Automatic Transmission

42RLE

Fluid and Filter Change. 3.8L (4 Qt)

Transmission Overhauled. 8.3L (17.6 pts.)*

545RFE

Fluid and Filter Change 2WD. 5.2L (11pts.)

Fluid and Filter Change 4WD. 6.2L (13 pts.)

Transmission Overhauled. 13.33L (28 pts.)*

Note: *Dry fill capacity. Depending on type and size of internal cooler, length and inside diameter of cooler lines, or use of an auxiliary cooler, these figures may vary. Check out the diagrams (below). Please let us know what happens.