My '97 K1500 Sub only shows a blinking light when I attempt to engage 4 hi or 4 low. Normally it would have blinked until fully engaged then turn solid. I can hear what sounds like a mechanical engagement, but the light keeps blinking. The transmission even goes into lo range, but the blinking continues. I don't believe the front wheels are pulling, but I haven't jacked all four to see.
Does this sound like the dreaded actuator? If so where do I find one?

Mahalo from Kona, Hawaii,

 

it sounds like u have a bad 4wd switch or an encoder motor.. most likely ur encoder motor tho those r bad about goin out.

 

Sounds like the actuator. BuyOEM atdealer for $150. Unscrews almost by hand and the new one all ready has thred sealer on it. Easy install but you may need the updated wireing harness for your 97, they sell that too.My 98 had the right one so it pluged right in. The new actuator will work so much faster all so. Good luck