The Service manual didn't address the source of the initial beep. I'll tell you this, if you don't have a warning module, square about 1½" across on the Starboard side, slightly to the rear and lower than the rear, lower corner of the oil tank, there is nothing to generate the beep. The horn blows when it gets a ground on the engine side....other side is switched power from the ignition switch.
The module only modulates the oil and it is a 10101010 to distinguish it from the OT 11111111. Since the oil has about a quart left when it sounds, it's more of a warning whereas when the OT grounds out, your crankcase is a 195 F and time to take drastic action.