EPs and engine light and ov

Out of the blue (just moving around garage) my EPs and engine light come on. When I drove down my street it comes and goes and ov flashes on dash. I have searched the forum and found a couple threads and it sounds like the consensus is the voltage regulator. Is there a way to check it? Where is it located on a 14 xp 900 and why would it just happen out of the blue? Is there an upgraded one to replace it with so this doesn’t happen again? Any info would be appreciated