My name is XXXXX XXXXX X am a professional here at Just Answer. I noticed that your question was not getting a response and thought I would see if you still need help with this.With the noise you have heard here and with the warning light coming on it sounds like something either internal in the transmission possibly has caused this noise and turned on this light like this here or an external component.With this light being on like this the fault codes should be checked with either a dealers tool plugged into your vehicles data port or a scan tool that can communicate with this vehicle.Once the codes have been read out it can then be diagnosed and determined as to what is at fault and has caused this here.It is difficult to pinpoint the noise and fault from here as this can be various different components that can cause this so this should be checked over/into further to locate what is at fault.This may require putting the vehicle on a hoist/lift to check over the components under it to see if anything is damaged.Let me know if you need anything else,thanks Pete.
Thanks for your help. My car is now with the Porsche Dealer's mechanic and I await the worst. Having just spent $10K on rectifying rodent damage to my car (most of which was paid for by the Insurers), I am not relishing the prospect of another large bill!
I was grateful for your helpful comments