The signal from the wheel bearing is low voltage ac. It can easily pickup interface and cause issues. Twisting the wires prevents that. They come oem that way some just don't realize this when running new ones and create a new can of worms.
a different application that runs low voltage ac signal. high end RCAs for aftermarket amps and upper level audio factory systems will also use twisted and shielded wiring for signal to the amp.
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