"Low Beam Failure" usually indicates that one of your low bean headlight bulbs is out. If your headlights are working fine, I wouldn't worry about it. These cars are old and get confused often. Mine keeps telling me my brake lights are out.
It is usually caused by the presence of moisture or corrosion at the connection terminals. You may want to check those and clean them up. Also see if the wires seems frayed or if any connection seems like it is not as sturdy as it should be.
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