You guys are ridiculous for blaming the OP driver here. THE ADAPTIVE CRUISE DID NOT WORK AS DESIGNED. If I had it on, I would be waiting for it kick in and slow down also. Then I would realize something is wrong here and hit the brakes....just as the OP did. I like adaptive cruise and use it often. BUT it does seem to slow too soon or closer than the last time sometimes?? So I am always watching the distance. This is not super cruise, or a Tesla, you cant go to sleep! Apparently some comments are from those who do not have or use adaptive cruise and dont understand how it works.
To the OP, I have had that message in the DIC usually when its raining and the radar is not optimal. I suspect something interfered with the radar and disabled it. I have never had it not slow, but have had it disable itself and put that warning up....which means you at that moment DONT have adaptive cruise, so adjust as necessary. Which you did. I would try it again on a clear day and see if its working properly at all. A dealer visit is in order.