I know the engine has enough oil and coolant is fine, but it comes on randomly at event but goes away.

 

Coolant sensor failure is very common.
Not so sure about Oil.

Have you checked the oil and coolant levels to be sure.

What year is your car?

 

Since this is in Racing subforum, I'd be more interested in anything he has modified in regards to the oiling and/or cooling system, perhaps an alternate dash cluster, etc...

Can't assume he is stock in these areas.

 

stock, in terms of engine. I also get fuel starvation when i get down to 1/4 a tank. Which i read was normal during sweepers.

 

If it's a 2004 the answer is yes, there are TSBs for both conditions

 

2005

 

Maybe that too if its an eatly 2005

If the oil & coolant levels are actually correct you maywa t to consider reviewing thise TsBs and taking corrective action. After 8 years the associated parts may just need replacement regardless

 

Can I not fix it since it really doesn't cause any issues when I start it back up and get on the road. The light goes away when I drive away from the track and never appears during DD.

 

mine is doing something similar, it needs an oil level sensor. you'd think after 7 of them, it would work, but you'd be wrong