The oil pressure sending unit or the gauge itself may be inaccurate. Temporarily install a mechanical oil pressure gauge in place of the stock unit for testing purposes. Compare results.
Most likely you did not align properly the mark, it causes the engine to have wrong timing as result the engine knocks.
Have it looked at by a mechanic.
you shouldn't drive a 95 neon
If your engine knocks than that can be a really bad thing, have you recently ran your truck without oil?
This light is trying to tell you your oil may be low before it does damage to the engine. Please check your oil level and add if it needs it.
Auto ignition of fuel
I replaced a 1995 town car intake it also knocks now. Not sure. I'll post later when I find out why.
If you are referring to a knock sensor, then it is simply a sensor made to shut down the engine if undue knocks are recognized by the sensor.
Roger knocks over the sandcastles.
If the sound is coming from inside the engine, an internal part has failed.If the sound is coming from inside the engine, an internal part has failed.
Timing is probably off.
Work lots of over time to pay for a engine overhaul or junk the car and buy another car then check the oil once in a while.