Leaking from oil pressure sensor?

Lately I've noticed oil drops on my driveway and I looked underneath and it looks like it's all concentrated around the oil pressure sensor. Could this be the reason for the oil leak? Here are a couple of pictures.

 

Does it take a specific type of socket to remove the sensor?

 

I'm wondering if a socket with a 3/8" drive would be easier to get into the confined space versus a half inch drive? I see 24mm deep sockets are typically used to remove the oil pressure switch but most come with a 1/2" drive and it's just that larger ratchet will be harder to maneuver in that limited space.

 

I found this one, which should be perfect for the job. And at just $8, it's a good deal too!

 

While waiting for Amazon to deliver the 24 mm deep socket tomorrow, after removing the passenger side front wheel and that little panel I was able to access the oil pressure switch very easily. I was able to remove it without any problem using a crescent wrench. So since I can't use a torque wrench until tomorrow to double check the tightness, should the threads disappear or should some still be showing after installing the new switch?

**Also, in the linked pdf it states that after installing a new pressure sensor switch you should not start the car for at least an hour. There was no reason indicated so I'm wondering why you should wait an hour before starting your car?

 

Ok, that makes sense, but the replacement sensor I bought from autozone already comes with that white thread locker tape on it. Not sure but it looks like teflon. Seems to be doing the job as no leaks detected after 3 days.