I never saw it on my S10 - don't have the S10 service manual at hand but I guess Yamaha use the same codes across the range. In the MT09 service manual, the fault code is linked to the crank position sensor - repair stages are: check connected, check for bent corroded pins, check wiring harness. If all are okay, change the sensor. If that is not the root cause, change the ECU.
Have you removed anything lately? Trapped a wire? Removed the ECU to reprogram? Bent a pin in the connector?