So I pulled the engine and gearbox out at the weekend and opened up the transfer gear housing and the gearbox and have found out that my 'unrelated gearbox issue' must be very related. During the test drives for the oil pressure I started getting a rattle sound from the transfer case so I was suspecting the idler gear bearing. So I thought to myself I'll take the engine out to sort this and then sort the oil pressure whilst I'm in.
Opened it up and the main bearing on the shaft of the gearbox verge of collapsing (surprised at how little noise it was making before hand because it only started after the oil pressure issue!). Small metal filings from the bearing (Near to the oil pick-up) made its way up through the oil pump and has scored it badly giving me the low oil pressure when warm.
Upon inspection of the rest of the components all is well since I have only driven up to 5 miles since all this started - lucky!
When I drained the oil the first time there was very little swarf on the sump plug but the second time there was a lot more which worried me however the issue has now been found.
The oil pressure gauge was correct all along and was definitely worth installing to watch the oil pressure instead of the light it has saved a lot of potential damage
Moving forward, another thorough inspection of components will be carried out and replacement parts organised - possibly a gearbox rebuild and a new oil pump for a start.
Should I replace the big end bearings whilst I'm in here? They don't look worn. All components will be cleaned accordingly to get rid of any fine bits of swarf if there is any...
Thanks for all your guidance