Most probably it is the PNP switch, which is a piece that goes on top of your transmission box. This part has a number of contacts inside and when it is very cold, the grease inside it gets hard and it will not work properly. If that happens it is a sign that you may have to replace it.
For now, try this: Turn your car on, let it warm and step on the brake. Then move your gear shift all the way from 2 to park at least 15 times. Do it slowly but steadily. This may clear the contacts inside the switch. You will have to clear the codes on your OBD-II.
Go to this link for a more complete view of your problem:
www.volvospeed.com/volvo_performane.php
Good Luck
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