I don't recall if I had any lights on the dash when my 4x4 went out, but it turned out to be a ground wire near the main electrical connector on the transfer case. There was one wire that came out and grounded to an eyelet. The wire broke out of the eyelet and was just hanging. I soldered on another eyelet and found a new bolt to ground it to.
Cheap fix, I hope your's is the same.