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I love that term "WAG" - but I think the folks here are giving something more than a guess - more educated guesses but guesses nonetheless.
I have the same year and model. Before you go and spend cash, I would try everything you can find on this forum. Guys here know there S!@#!#@!. When this happened to me, I did the steering wheel bit and eventually pulled the battery cables and the steering bit again and it worked - no more 4x4 light. No harm in doing these things. It only take s few minutes of your time.
Find a good indy in your area and they should charge no more thean $80 to read the codes and clear them.
I'll look in my repair manual and see if I can find anything and will get back to you.
Good luck.
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