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Q:

P0332 DTC code (Knock Sensor 2 Circuit Low) MIL Off on 2004 Chevrolet Tahoe

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Just got the P0332 DTC code (Knock Sensor 2 Circuit Low) on OBD Scanner. Additional information also indicates "Malfunction Indicator lamp (MIL) status is Off. What does these 2 indicator means? Is this serious?
(1) Answer
Your vehicle has two knock sensors located under the intake. They check for detonation (spark knock) and adjust spark timing accordingly. MIL Off means that the fault has not failed enough times consecutively to turn the "Check Engine" light on. If you drive it long enough, the light will eventually come on.
Most times, these codes set because water collects under the intake manifold and floods the sensor. When I used to see these codes, I would replace both the sensors. The intake manifold has to be removed to gain access to them.