You can still have a fully functional cluster, but the cruise may not function if it sees an inconsistent signal from the cluster. The cluster will be buffered so a single or a few missed pulses randomly won't be visible to you, but for a module looking at the signal, it can be an issue. Brake pedal flutter huh Dave? Key detail right there.
Zach, you could get a ballpark with a dvom to see if the level is in the ballpark but to see if you have missing pulses, really gotta throw the scope at it.
Personal experience multiple times, has shown no ABS light, no cruise, all systems normal otherwise. Repaired the ABS module after it did finally throw a random light 1 time, cruise began working again.