I'm no aeronautical engineer but did hear a crew member mention a regulator valve.
Possibly a PRV or pressure reduction valve.
Air is constantly taken off the engines for various functions. The engines don’t produce a constant supply though. At idle there isn’t all that much, whilst at high power there’s a lot. So, depending upon the engine power setting, the air is taken from two different points in the engine, with one being a much higher pressure than the other. So, at low power settings (i.e. taxiing, or an idle descent) the air will come from the high pressure stage, and most of the rest of the time, it comes from the low pressure stage. You can sometimes feel/hear the stage change in the cabin at top of descent.
Taxiing around, you might get an occasional stage change, when for instance, power is applied to rapidly cross a runway, when it would go from high, to low, and back to high.
A warning is generated by the EICAS/ECAM if the system detects a fault. This could be a valve that’s not totally in either position, or one that has failed to move from one to the other. If an engine is stuck in low stage, you can work around it by simply not using idle in flight. It doesn‘t take much power above idle to generate sufficient air, especially as the only real need from an individual engine would be for the engine anti ice. On the other hand, if it’s stuck in high stage it could deliver air to the bleed system that’s way above its ability to handle. At that point there’s the risk (likely) of major damage to the ducting. Turning the bleed off should solve that problem in flight. A PRV failure on takeoff is the most likely time to run into real issues. The power changes pretty rapidly from very low to a lot. There isn’t a great deal of time, and attention is not on auxiliary systems. A PRV failure that annunciations prior to about 80-100 knots is cause for an abort. After that you’ll have to live with it, but you won’t be in a position to turn the bleed off until the aircraft is at a few hundred feet. Duct damage is likely in that case, and so is a return.
The most likely engineering action in this case, with the aircraft coming back to the blocks, is for the engineers to lock the bleed closed on the affected engine. No air, no potential issues. The other engines produce more than enough for all of the functions.