Which sensor do you mean, the sensor that tells the fuel injection computer the temperature of the ambient outside air, (usually built into the air flow meter on the air intake duct or air filter housing, or is a sensor that pushes into the air filter housing through a rubber grommet about the size of a quarter.). Do the air conditioning temperature sensor used for climate control, this one is behind the dash or built into the heater controls.
That is the sensor that pushes into a grommet in the air filter housing, often gets bumpd out when working in the engine compartment. If disconnected it sets a code but does drastically effect the way the engine runs, is used to trim fuel mixture for cold vs warm ambient air. White smoke out the exhaust may be more serious, if you also have a coolant loss check for a blown head gasket.
At higher mileages, an anti-lock brake system wheel speed sensor may wear out and illuminate the ABS warning light. It is recommended to replace the sensor wi...