As long as your oil light goes out when the engine starts that is normal. No engine will have any oil pressure when the engine isn't running.
Regarding your fault code - this will probably be a seized turbo actuator pivot. Quite common on the 1.4
A 1.4 Golf in my family had this fault - we managed to disconnect the pivot pin (it was very seized), clean/file & grease and a new circlip and all working fine since.
If severe you'll need a new turbo actuator
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This thread has some useful photos:
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