No, white smoke from a car's exhaust is almost never related to the oxygen sensor. White smoke usually indicates a problem with the cooling system, specifically coolant leaking into the combustion chamber. This could be caused by a blown head gasket, cracked cylinder head, or other issues related to the engine's cooling system.
An oxygen sensor malfunction would affect the air/fuel mixture, leading to different symptoms, such as poor fuel economy, rough running, or potentially black smoke (if it's running too rich).
