aye thats the "clockspring" that connects the airbag to the ecu harness so the wheel can turn and not trap a cable, it needs replaced of course but you can do it when ever, or disco the battery, put a 3ohm resistor between the airbag harness pins and reconnect the battery, bingo, no airbag light.
No airbag either tho. The passenger one will still deploy with the resistor fitted.