I have an 06 IS250 and both my VSC and check 4wd lights came on. Also the ABS light. Could this be caused by a bad wheel bearing,or is there another issue? Yes,my driver side wheel bearing needs to be replaced

 

Wheel bearing is unlikely the cause of the light because the engine light comes on when the ECU can detect an issue, which means sensors or software detecting an issue. I have never heard of a sensor on a wheel bearing.
Either get yourself an OBDII reader, or go to someplace like AutoZone where they will read your code for free.

As for the wheel bearing, get that fixed ASAP.. My wife had one that went on her RX330, she never told me there was an issue or any noises. When it finally was brought up it was, "there is something wrong with the brakes".
She had let it get to the point where the bearing had completely gone. The brakes took the brunt of it, wore down the pad, the metal backing, and the caliper itself was actually doing the braking... We needed 2 new calipers(the other side ceased as a result), a rotor, pads, and wheel bearing..
Needless to say, she now knows to tell me when something is wrong now, instead of turning up the radio to drown out the noise... But now she has gone too far with it, the engine light came in indicating a O2 sensor failure and she didn't even want to drive it till it was fixed..