This subject comes up routinely every few months.
The sensor is under recall and can be replaced for free with a guarantee of 12 months of proper operation.
When this first happened, I bought two spares from a European vendor for about half what they cost here and they are still on the shelf.
Disabling a mandated safety feature on a production vehicle brings with it interesting liability issues. A failed sensor that is a result of a design defect and an injured passenger is one thing. Taking action to disable your said safety feature then opens the door for your insurance company to deny any claims for bodily injury to a passenger. They were injured due to your actions, not as a result of a failure.
In fact, if your system fails and you KNOW about it and take no action, then the insurance can easily make a claim of negligence on your part and deny any claim for passenger injuries in the event of a crash.
It’s clearly your decision but paying $400 bucks to keep your passengers reasonably safe does not seem like a huge sacrifice. Especially when weighed against the result of an injured or dead passenger due to your need to save $400.