Don't know what the P38 switch innards are like but the last time I encountered a similar problem, not an indicator switch, it turned out to be a detent spring issue. The spring had roughed up the part of the housing that it ran on creating enough drag to slow the detent down enough that it couldn't keep up with the switch centring spring so the switch could overshoot.
The moving parts of that switch had been lubricated with some sort of greasy stuff which, on the evidence of the squidged out stuff alongside the pivots, was clearly well past its sell by date.
If your switch is similarly afflicted the usual strip, clean, polish off wear marks and re-assemble process should fix things. Dunno what the current best practice is for lubricating such, mostly plastic, things is. I'm minded to try a silicone / PTFE blend spray next time.
When it comes to stripping the $64,000 question is how many self ejecting and self hiding springs, primed for instant escape into the darkest corner of the workshop, are there inside? Working inside one of those big transparent plastic storage boxes is said to be effective at preventing such escapes.