UPDATE - so far so good .. The new CPS sensor was the fix.. however I wanted to clarify with all what I did regarding spacer shim. While I purchased a .020 shim washer from Autozone (part SU12931) for $10, but I did not use it.

Instead I decided to try (see pic) a retaining ring I located at hardware store. It was .030 thick for $1.50 and videos on issue and specs stated air gap must be at least .030. It did not specify the maximum. Since my CPS was replaced 1 year ago and with 235K miles and 15 years old I assume I may be having some ball bearing slippage mentioned in videos. So I figured an extra 0.010 is not going to hurt and could help..

This clip would not slide over the tip as diameter was barely under, (maybe others could purchase a larger diameter if preferred), but for me I installed it by slightly forcing the clip open and it fit nicely and retained itself using the plastic ribs on sensor near the base plate..

After installation I noticed the spacer was slightly visible and where the clip opening I was concerned air or fluid could access/escape. I sealed that spot with a small amount of Permetex Red gasket sealer..

If you can find an actual .030 washer shim that would be best, but I did save $8..

 

Thanks for the update and congrats on fixing your truck!