It can be something as simple as a dirty or loose jack connection. There’s also the possibility of corrosion or dirt in the jack or pots, or (worse case) the pickup is shorted.
Fortunately, that bass uses a single split-coil pickup and a V/T knob. So any wiring diagram for a Precision Bass will work if you need to repair or replace the electronics.
Open the control cavity and look for loose or frayed wires and things like rust or dirt.
I’d start by looking at the jack. Are the contacts rusty? If so a light sanding with some very fine 3M sandpaper should get it off.
Next insert your cord and look at the back of the jack while you give it a wiggle. Is it making good contact? Does it look or feel loose? If it is, it’s possible to gently bend the spring contact in a little to make better contact. Alternatively, you can just replace the jack.
If you own a multimeter you can check the DC resistance reading on your pickup. If it’s really low the pickup is probably shorted and will need to be replaced.