I think this is the "dynamic oil pressure" board? I'm changing instrument
panels on an '86 Transporter - the original instrument panel had this
circuit board and corresponding connector on the foil, the replacement
instrument panel does not have either.

With the original, the oil pressure LED blinks with the ignition switched
on, then goes out immediately when the engine starts. With the replacement,
the oil pressure LED stays on solid with the ignition switched on, then
flickers and goes out about a second after the engine starts.

My question is, what function does the circuit board serve? What would be
the implications of not having it installed?

Thanks,
Doug Fitz-Randolph
Freeport, ME