97 540i /6spd Crankshaft Position Sensor

My 97 540i /6spd 85k has started throwing an occasional CEL that codes to Crankshaft Position Sensor. Has happened about four times. I reset and a week or two later it comes back, sometimes resets itself before I get a chance to check/reset. Car is starting and running fine.

Question: Does this mean change it out now or wait until full time failure reading?
Can I clean the thing up and hope its a grime / corrosion problem?
Is this typical behavior / replacement cycle?

Looks like a pretty simple replacement (its on the bell housing for my car)

Thanks in advance!

Scott