I found the trouble shooting guide for my live well switches for a 2017 Z19... Not sure if you have a 2017 or 2018, which is important cause the switch panels are different...
I should add that I had to have my entire switch panel replaced due to similar issues as yours.. Pump would not run or run for a small period and stop, and switch light would then flash red. It did this on both the starboard and port fill pumps on an off an on basis shortly after I purchased my boat. And after looking at the schematic it doesn't say or show anything about the oxygenators (so take the comments in my previous post with a grain of salt)
System Warning (Red Light) Diagnostics
If the red light on the panel is blinking:
Completely turn off the system (power down) for 10-15 seconds, then power the system back up, does this solve the problem?
If the light is still blinking, this indicates one of the following:
The inline fuse between the panel and the pump has blown
The pump is blocked or has locked impeller
To diagnose the problem, follow these steps in order.
1. Blown Fuse: Check the 4 in-line fuses for any inoperable fuse. If blown, replace with 5 amp in-line fuse. Check the system warning light.Also Verify that Fuse Block fuse is 10 amps if not replaceIf the red light continues to blink, power down the system for 10-15 second, then check again. If the red light continues to blink, move to thenext step.
2. Blocked Pump: Inspect and remove any debris visible by/in the pump. If debris is present, once removed, check the system warning light.If the red light continues to blink, power down the system for 10-15 second, then check again. If the red light continues to blink, move to thenext step.
3. If no debris is visible, the pump may have locked and need replaced.After replacing the pump, if the red light continues to blink, move to the next step.
4. Failed Module/Switch: If the fuses and pump have been replaced and the system warning light continues to blink, the livewell module orlivewell switch may have failed. Replace livewell control module and/or livewell switch, then check system warning light.
Should the system warning light continue to blink at this point, consult TMG Engineering