What happens is, it goes into a "limp home mode." Basically, you're F-ed. I had some experience with active suspension on the ZR1 in the 90's. It had a Cessna hydraulic pump, and LOTUS hydraulic actuators at each wheel. Well two per wheel controlling 'in and out' to a) hold the car up. and b) to control the wheel. It had proximity sensors ahead of each wheel detecting the road surface and sending info to the controller. Then the controller would send control data to each solenoid to use hydraulic pressure from an accumulator to control the wheel movement.
Yes, there was an enormous amount of sensors and software to make it all happen. In the end, it was all canned. I rode in the final product, and from my view, people would have been killed in that car at the speeds it was capable of.
Going over a railroad track at 90 mph and only hearing the tires hit the rails, but not feeling the bump, gave you the feeling that it was not there, and could go faster.
Magnehelic is completely different. I have info on that too.
GD