Normally that relates to a faulty wheel speed sensor. All those systems rely on data from the WSS so when one goes tits-up it has to throw up an error and in some cases (ABS/DSC) shut them down.
There's also a steering angle sensor which can cause this.
Or it could be an odd electrical glitch, dodgy fuse, iffy battery type stuff, but the most common cause is faulty WSS.
Won't cause a problem, you just need to be allowing for lack of ABS and DSC.
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