95% likely a wheel speed sensor, usually at the rear, Volvo diagnostic gear will tell you exactly what’s wrong.
The tpms system uses the abs wheel speed sensors so if one fails as well as the abs error you get the tpms error as a brucey bonus. I.e. the cause of both errors is one and the same.
Not uncommon, not usually expensive, nothing to do with the tyres.
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2011 XC90 D5 Executive
2003 C70 T5 GT
2012 Ford Ranger XL SC
1977 Triumph Spitfire 1500
1976 Massey Ferguson 135
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