Drivable short-term, but fix now to avoid damage.
This code means the transmission control module is getting a reading from the output speed sensor, but the value doesn't match what's expected based on engine speed and gear. It often points to a weak or dirty sensor, wiring problems, or internal transmission issues like a worn tone ring. Repairs usually start with testing and replacing the sensor, which is frequently fixable without major transmission work.
$150 – $500
Varies by vehicle and root cause.
For short trips, usually yes, but it's not ideal. The transmission may shift poorly or slip, so get it checked soon to avoid being stranded or causing extra wear.
Repairs typically run from $150 to $500, depending on whether it's a sensor, wiring, or an internal transmission part. A fluid service is sometimes included.
It's moderately serious. It directly affects shifting and can lead to limp mode, so while it's often a sensor fix, you shouldn't drive on it indefinitely.
P0722 means the sensor signal is present but out of its expected range, while P0723 means no signal is being received at all. They're closely related but point to different stages of the same problem.