It sounds like you've got a classic case of the coolant light being a bit overdramatic. It’s not uncommon for the sensor to get stuck or malfunction, especially if it’s been exposed to some gunk or debris over time. Since you've already topped off both coolant tanks, it's definitely worth checking if the sensor itself is the culprit. Replacing the coolant level sensor is usually a straightforward job, but it can vary depending on the model year and configuration of your GLS550.
As for the stuck float suggestion Mike mentioned, that’s also a solid lead. Sometimes, the float can get stuck in the canister, leading to false readings. You might want to give it a gentle tap or check for any obstructions. If you have a good scanner handy, I use youcanic, it could help you diagnose any fault codes related to the coolant sensor too. Good luck, and keep us posted on what you find!