The knock sensors on the engines where they are underneath the intake (like yours) are notorious for getting water logged and corroding even in stock vehicles, worse on buggies without hoods / exposed to the elements. The sensor is in a dish-shaped port that holds water. They are a crappy design and a PITA to replace. (Intake has to come off, I believe there is also a small harness that goes to them that has an updated version due to some other issue with the harness itself.) Later model LS engines moved to a different type of sensor on the lower side of the block for this and other reasons. Sometimes these issues can be intermittent but they can cause it to go into limp mode. I would say if you had a knock sensor code and it is still present this would be the place to start, especially if you didn't replace the sensors before when you knew there was a code. A lot of the time once you get the intake off it is obvious which sensor it is because it will be rusted to hell. I was just at a junkyard the other day and noticed a Tahoe with the intake off. The front knock sensor was old, but still silver. The rear one was completely brown and rusty with flakes chipping off of it and mud caked in the bowl-shaped port.