So, we're not talking about wheel speed here. VSS is on the gearbox, not a wheel.
The VSS sends an AC signal to the speedo head, where it is converted to a PWM (square wave) 0-5V signal that the ECU, HICAS, TCU, etc all read on the vehicle bus.
If you want to measure the presence of that signal at the ECU it is best done with a scope of some sort, rather than a multimeter, as you won't reliably see it with a meter.
The speedo head might be faulty.