Open Manage Reporting Processor Error

Noticed an orange flashing power light on the front of our server and on checking in OM we have this error:-

ID = 1604

Category = Instrumentation  Service

Description =  Processor sensor detected a failure value Sensor location: CPU1 Chassis location: Main System Chassis Previous state was: Unknown Processor sensor status: Presence detected, IERR

We don't seem to be having any issues apart from the flashing light, is there something we should be doing about this or can we ignore it?

Thanks

G