Tire pressure reading incorrectly I think

For the past few days I have been getting an alert that my tire pressure on one of my tires is 33psi. The rest are all around 45psi. I went to put air in the tire but the pressure guage is saying it has 45psi. The only thing I can figure is that the sensor is malfunctioning. Is this a thing? Do these sensors fail in this manor from time to time and have to be replaced?