The TPMS light is alerting you to low tire pressure and it could mean that the tire pressure is just a little low but then again it could be too low which can cause damage to the tires or a potential tire blowout and fatal wreck.
If your TPMS light is on check the tire pressure and get them inflated to the proper air pressure because driving on low air pressure in your tires could cause a dangerous situation.
So it could be safe to drive with the TPMS light on or it could be very unsafe depending on the tire pressure.
Low tire pressure can also decrease fuel mileage as well so you could improve your fuel mileage by inflating your tires to the proper air pressure.