Yes they can but often replacement is necessary. When the vehicle is shut off the traction light will reset. when turned and driven when the module sees a problem or lost signal with the wheel sensors it will turn on the light back up until it is shut off once again. Have your vehicle tested for codes with a capable scanner. the codes will help you give direction on which sensors or circuits to check.
It wont help to clean the sensors! As answer 1 stated, a scan test is needed to find the sensor (or wiring) that is failing.
Sensor and bearing combo. i am pretty sure! Possible wire or connector problem also!!!!