It might, but I would suggest this first!
I would start with the first code P0775 and trying to eliminate this issue first! P0775 may have a voltage issue to the solenoid valve and/or dirty transmission oil blocking oil to the solenoid valve which could be causing the second CEL of P0846! Try this first checking your wiring harness to insure proper voltage to the solenoid valve. The easiest solution is to check the wiring harness for any problems such as corroded pins, bent pins or broken wires and failed terminals. After this look into dirty transmission oil with debris in the pan, when was the last time the transmission oil was changed?
Just my thoughts, other may respond with better advice.