P1432 on a GM vehicle means the powertrain control module (PCM) has detected a low voltage signal on the fuel level sensor 2 circuit, which is the secondary fuel level sender used on vehicles with dual tanks or a transfer pump system. The PCM monitors the signal voltage from the sensor and sets this code when the voltage stays below the expected threshold for a calibrated amount of time, indicating a short to ground, an open circuit, or a failed sensor.
You can generally continue driving with P1432 because it does not affect engine operation or safety systems, but do not rely on the fuel gauge for refueling decisions until the fault is repaired. Avoid running the tank very low, as an inaccurate gauge could leave you stranded.
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Guidance is general and written for GM vehicles. Exact tests and values vary by model, so confirm the fault before replacing parts.
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