That is "The Genie Is Ready" light. Also known as a low oil pressure/temperature light. I'm not sure why it is illuminated in your ETK.
Well, I checked the Engine Temp, and it said Oil was OK. I did see that it said Turbo was Overheating...
Most likely a bug or glitch in the game, often times complexities arrive when trying to code a little light to come on when the oil temp gets to high, will likely be fixed at some point
Normally, that light (when it isn't indicating 'the genie is ready') it means the oil pressure is low. But I guess newer cars do have oil life things, and possibly oil temperature sensors too