Can a code P1345 be set from having too much slack in the timing chain?

Question

1997 GMC Suburban 4whl.drv. 5.7 engine with 280,000 miles on it. I've been getting an
intermittent code P1345 ( cam/crank sensor fazing off ).

Answer 1

P1345 CKP/CMP (crankshaft position sensor/ camshaft position sensor) correlation.

If there was too much slack in the timing chain , you would have a rich running condition, and no power. It is possible but not probable that the crankshaft tone ring has moved, but for this code condition it is more than likely the distributor has moved out of place.