Q60 convertible output speed sensor issue

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Skittles

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Firstly I would like to thank everyone for welcoming me.
My wife has a 2014 Q60 convertible, it's an automatic and last week it started not to shift and seemed to be stuck in 3rd gear. I scanned it using a home scanner and that reported a PO720 code, it appears to be an "OUTPUT SPEED SENSOR" issue. Does anyone have any input on this because depending on who I talk to this could be very expensive.
I can be reached at robin2327@gmail.com if anyone has thoughts on this.
Thank you
 
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