No. As said, it is a bypass for the fuel pump relay. It will keep the pump RUNNING if the fuel pump relay or it's associated wiring fails. It will NOT shut off the fuel pump unless the fuel pump relay has already failed.
A high-failure item. My truck has been through three of 'em, currently on the fourth. They can fail showing low oil pressure; they can fail showing erratic/fluctuating oil pressure--high or low. They can have a leaking/spraying sort of failure. Sometimes, when you unscrew the sensor, it's heavy and sloshes because the seal has failed and it's filled-up with engine oil.
BE CAREFUL with the part number. PS269 hasn't come up in my parts searches, but you didn't say what brand you were using. When I look up PS269 at O'Reillys, the photo and description appear to be incorrect for this application. PS 269 appears to be the same as NAPA OP6649.
You will "have fun" getting the OEM heat shield to fit this extra-large sending unit.
I've seen several parts stores list the WRONG sending unit for this vehicle; and I think that's what happened to you. (O'Reilly's and NAPA are two.) The one you want typically has a green paint-stripe on it. Far as I can tell, it's made by one company then re-boxed to suit whatever brand-name is sold by that particular parts-store. It's smaller than the common "incorrect" unit; it actually fits the heat shield and doesn't interfere with either the exhaust or the block.
BWD
S4320 seems to be the correct one.
O'Reillys (Standard)
PS410
The NAPA / Echlin number is
OP6729. (
NOT OP6649)
AutoZone sells it as
PS150.
CarQuest
57013 (years ago--doesn't seem to be a current part number.)
The heat shield for that sensor might be CarQuest P/N S4049S; but since that CarQuest web page has no photo, I can't confirm. OTOH, it crosses to O'Reillys (Standard) PS381 which looks reasonably close--it's just missing the spring tabs at the big end that the OEM shield has for secure fitment.
Old, defective sender (green stripe) with OEM heat shield, compared to new, incorrect sending unit
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Old, defective sending unit on OEM pipe-thread adapter; compared to WRONG sending unit on home-made pipe thread adapter. No combination of available adapter angles could prevent larger sending unit from interfering with either the block or the exhaust.
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I think the source of this entire fuel pump shutoff debate is in fact due to a combined failure of the fuel pump relay circuit and a failure of the oil pressure sensor.
The op sensor does not cut the fuel pump off to save you from low oil pressure.
What happens is you have an issue with the pump relay circuit failing and the backup oil pressure sensor failing.
That is why the engine shuts off and you get a code for low voltage in the fuel pump circuit and a check gauges light
The pump relay has failed and the path is now through the OP sensor.
So now you only have one path to the pump.
If that oil sensor fails, you have no path to the pump.
Thus the stall with the low voltage check guages light.
In my case I had the full meal deal.
Cheap fuel pump relay, bad grounds at the fuel pump.
Cheap aftermarket oil pressure switch.
And the brass fitting for the OP switch was spewing oil.
The fuel pump relay looked okay from the outside.
But it was internally melted and the contacts were welding together when hot.
Yet they would pop apart when they cooled just a bit.
The brass fitting in the manifold was bone stock and puking oil pressure.
And, if it leaks oil out, it also sucks dirt and water back in.
That fitting is installed with thread sealant.
Not thread locker.
They are not the same thing.
If that fitting is not glued in the right place, it will suck crud into the OP sensor and cause a failure.
In other words, The OP sensor does not shut off the engine because of low oil pressure.
That is accidental and not a designed feature.
A shutoff due to low volts in the circuit is a combined and quite possibly an intermittant failure of both circuits.
This is also why you can get a seemingly random shutoff and ten minutes later it starts right up and then does it again.
The relay may pop loose after just a bit and start working again.
Then it re-arcs and doesnt make contact.
So the OP switch has taken over.
But it looses contact and the relay has also lost contact.
Random stall.
A few minutes later, it starts again.
That random stall is a duelling intermittant loss of voltage between the fuel pump relay circuit and the oil pressure sensor circuit.
And its a real ******* to diagnose because its just odd.
