It is supposed to be less than 1.0 volt. Check you O2 sensors & look for vacuum leaks.
Dump the codes and see what the computer says is wrong…
Here's the link to dump the computer codes with only a jumper wire or paper clip and the check engine light, or test light or voltmeter. I’ve used it for years, and it works great.
IF your car is an 88 or earlier stang, you'll have to use the test lamp or voltmeter method. There is no functional check engine light on the 88's except possibly the Cali Mass Air cars.
If it runs fine with no bog or hesitation then run it where it is at. the earlier it is the more picky they tend to be, the later they are then they have more of an adaptive feature.