The problem might be something seemingly innocuous like a loose gas cap, but it could also be something serious like a failing catalytic converter, a failing sensor leading to misfires, or a more severe engine problem. These could lead to a breakdown, sometimes with little or no warning beyond the check engine light.
It's crucial to get the code read from the OBD system using a code reader (available at auto parts stores) or a mechanic. The code will pinpoint the specific problem, allowing you and a mechanic to address it before a complete breakdown occurs. Ignoring the check engine light increases the risk of more serious, and more expensive, damage.