Volume Degraded, but All Drives still Healthy?

I turn on my PR4100 (RAID 5) one morning to find a red light on the second bay. I went into the control panel to assess the situation and I received a notification saying “Volume Degraded.” I ran a Disk Check and discovered that all my drives were still “Good.” I’m not sure where to go from here, seeing as I do not wish to lose any of my stored DATA, nor purchase a new drive (since all of them seem to be working fine).
Any advice on what to do?
Thank you!

I’ve had degraded arrays before by a bad connection to the drive by fiddling with the drive slot.
I’d recommend to restore/rebuild the raid array with the current drives.

If there’s no SMART errors, no need to replace the drive. But it’s recommended to have a spare drive available when you need a replacement to minimize the time running on a degraded array.
Note that RAID is not a backup… make sure you have backups of the critical data.

Thank you for your reply! So when I rebuild the array, will all my data be erased, or is there just a possibility of that happening?

Your data is safe during a restore.

Good to know! I completed the restore and I did not lose any data. Thanks again for the advice.