No there shouldn't be any - but having said that, mine had some small grooves on it when I bought the bike - at some point the sensor had been catching its back end on the pulsar ring. It worked fine for a long while.
You will get fault codes if the clearance between the sensor and the pulsar ring isn't as specified, or if the sensor has attracted bits of metal (it is magnetic) - wire brush bristles are a favourite. There has to be a small air gap, and the castelaltions on the pulsar ring need to be clear.
You can also test the sensor - or I discovered that I could on my ST1100AY (2000).
The sensors are interchangeable so if you clear the codes, switch the sensors over and try again - you will be able to establish if it is a sensor fault or something else.
If the sensor is stuck, do not try to tap it out - the bracket will break, even with very tiny taps. Find another way.
This post of my experience may help. I wrote it years ago when I had problems and the Honda dealer couldn't fix it and I came up with a method of checking whether or not the sensors were working. This helped me to pinpoint the fault to a rear sensor fault - after which I was able to replace it.
You will read it in the links - particularly the last table in Post #1 - 'what the manual doesn't tell you' - but be aware that many of the fault codes you will get from now on will be old ones. (Maybe the ones relating to the arming of the ABS actuators could be new). But in order to trigger a new fault for the sensors, the system has to have armed itself, and in order to do that it needs to have moved forward above 5mph and obtain compatible readings from the front and rear sensors. If it doesn't do this, it cannot arm itself and therefore isn't able to detect whether or not the sensor is working.
(No I don't understand why it cannot report that the rear isn't producing any signals, but this is what I found). I rode the bike for a good few months with the ABS not working, before I eventually got it sorted out. It never generated a new fault code for the faulty rear sensor !! This had me confused for a long time. See the table at the bottom of Post #1
All of this was on a UK ST1100 AY with ABS/TCS/CBS - how it relates to other models, I do not know - although some versions have a different fault code for the sensors, I believe.