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Usually it's the sensor that starts acting up. However I would not risk it, have an actual oil pressure test done to make sure there is enough pressure.
No, catalytic converters are not in the area.
There is no real time line for the oil pump. Typically they give out when the car is over 100000, but it doesn't have to and it can go out earlier.
As for the repair cost it is about 3.5 hours to replace it. That is about $350 for the labor cost.
Thats true, I believe they don't put oil gauges and fuel gauges into car is because of the leak possibility.
Not even an hour it's a very easy job to do. .8 hours to replace.