Is This Brake Pad Warning Light Normal?

Hi all,

I've had the brake service warning counting down for a while now on my F56 MCS, and it has now gone past '0 miles remaining'. Around the point that it hit 0 miles, the red brake warning light came on in the speedometer, like the image attached, which has made me a little concerned.



I have checked the pads through the wheel, which still have a reasonable amount of meat on them, and have also checked the brake fluid of which there is plenty. The brake pedal also feels normal and there is no grinding noises. I have also scanned my car with an OBD reader and no codes came up.

Does this light just come on when the wear sensor's contact is broken? Or is this another issue that I'm not aware of?

Any advice is greatly appreciated!