You don't have to replace the sensor unless the TPMS light being on bothers you and you don't want to go with the black electrical tape fix.

I had one of mine go out a few weeks ago, did some investigation and decided that I'm just going to continue checking my tire pressure myself like I have done for fifty years. I'll likely wait a couple of years until I need new tires and replace the sensors then. Doesn't make sense to me to spend $60+ bucks to replace something that I don't really need. YMMV
Len
2014 EV Coupe 20,500 miles
2014 EV Cabriolet 19,000 miles