It means engine and transmission is not up to operating temperature. The oil is thick and won’t operate engine solenoid valves properly causing slow shifts. Usually, the only thing it effects is the torque convertor won’t lock. A torque convertor that won’t lock has a side effect of heating up transmission fluid. When the blue light goes out you will notice shifts are more solid. You can run it not properly warmed up but you’ll notice the engine winds out a lot more.
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