MD-11 Check Pilot reported rejecting the takeoff when a red engine fail illuminated with an apparently false alert just before V1.

Narrative

Started down the runway; and just as we are getting ready to reach V1 we had the engine fail; red light illuminate. I immediately chose to reject the takeoff; and as we reject the takeoff; the light then extinguished we rejected the takeoff at about 135 kts made a complete stop went to brake cooling area and then went and parked and had it checked.Identification: When the light illuminated.Cause: Unsure would cause it could not duplicate and saw no other issues.Response: Reject the takeoff.Suggestions: Not sure how you could avoid it again.