The 1998 ABS wheel sensor has a plastic locking pin. Using an awl or a safety pin, push the plastic pin out and then remove the sensor from the strut. Do NOT lose the plastic pin, you need it to remount the sensor.

I will be out of the office for a week, so I can't stop by my local P&P and pick up a couple. 850 won't work, you need 1998-2000 S/V/XC70, not sure about 2001-2002.
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My back feels better when I sit in a Volvo seat

See if you can release the pins from the broken connector.
I haven't looked at the ABS connector but many of the connectors have pins that
are inserted and have a small metal latch to lock it in.
They can be released with either a small pin tool that is just a piece of thin wall tubing that fits over the OD. of the pin to collapse the lock latch.
OR
sometimes you can release pins with a ground down bicycle spoke that's ground into a very thin flat wedge that can fit in outside of the pin and collapse the latch.
(It will look like a skinny narrow straight slot screwdriver the width of the spoke.) This is all done from the side of the connector the wire comes out of.

Once you get the pin out, you can solder new wires and pry out the latch and reinsert the pin.

Give it a shot.

Bill