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Quite likely. The ABS has a sensor on each front wheel and one on the axle for the rear axles. The sensor on the axle goes to the speedometer and the ABS computer.
If the speedometer signal from the sensor is flakey you'll have a flakey speedometer and ABS will shut itself off.
The connector at the harness of the axle sensor tends to corrode. If you're handy you can butt splice the the wire(s) back together. If it's bad you can order a new connector and pigtails and splice them back into the cable. That's what worked for me. I think I still have the part number somewhere if you're interested.
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Paul NW Indiana '89 740 Turbo 140,000
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