NO, the O2 sensor does NOT trigger P0492.

OBD Code P0492refers to Secondary Air Injection System Insufficient Flow
Symptoms
- Check Engine Light ON (or Service Engine Soon Warning Light)
Causes
- Intake leak - Damaged AIR system components - Faulty AIR Solenoid Valve - Faulty AIR system relay

Try to clear the code and see if it comes back.

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