I have a slight leak coming out of my transmission on my 2002 4.7 liter grand cherokee's transmission (545RFE ?). It looks to be coming from a sensor in which I believe is the line pressure sensor. Towards to rear and the passenger side of the transmission. Before I go tightening, replacing, and sealing. I am asking if anyone has ever had this problem? and is it a simple fix?

That should be the line pressure sensor. There is a bolt that holds the sensor in place. The sensor has an o-ring that seals to the trans case. You may want to remove the sensor and inspect it, you might need to replace the sensor or it could just be the o-ring too. Auto parts stores will probably need the o-ring removed to match it up, or a new sensor should come with the o-ring attached.

You shouldnt lose much fluid when removing but you might put a rag or small pan under the area to catch the drips. Lubricate new o-ring with a little ATF before installing

Hey thanks I will just replace the sensor since I will have it off..and change the suspected leaking o-ring also.

New sensor should have a new o-ring on it but double check that before you leave the store.