Hi, Seabob33.
This is a common occurrence and is usually caused by things like poor quality cables and connectors, and drives and other connected devices trying to draw more power than the Mac can provide. Sometimes it's an issue connected with sleep feature of some of the newest Macs.
It appears that this has happened to your Time Machine backup drive, yes?
Do you ignore or resolve it? Ideally you want to resolve it, especially if this is your backup disk. This behavior has the potential to corrupt the backup process. It probably won't do any more damage than that, but it is terribly frustrating as you know. If it's a regular occurrence then, yes, it should be addressed. If it happens only very occasionally, then it's not so critical.
A couple suggestions:
1– If the cable can be disconnected from the backup drive (not permanently attached) then you can try replacing it with a different good quality cable.
2– If that drive is powered by the connection to the computer, you can try to fix it by replacing it with a drive that has its own ac adapter to power itself.
3– If the drive is connected via a hub or dock, you might find that a powered hub/dock is more reliable.