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1998 Jaguar XK8 8 Cyl with code P0721, will this code affect the acceleration of the vehicle?

Vehicle: 1998 Jaguar XK8 8 Cyl

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P0721 Output spped sensor range/performance

The outputspeed sensor is located on the rear of the valve body, This signal is used to determine transmission clutch slippage and shift points, if you loose this signal  the TCM (transmission control module) will subsitute the signal for the rear wheel sensor signal, Yes it does affect the accleration as for shifting the transmission.
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P0721 Jaguar Code - Output Shaft Speed Sensor Range/Performance
Read more: https://www.autocodes.com/p0721_jaguar.html

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