The two are not related. ATS is the temperature provided by the mat sensor (picks up air temperature by the air filter).
If it is hot outside and you have an open KN fillter under the hood, it will flash hot, particularly when you are stopped. I have forgotten at what point the SM stops reporting air temp and starts flashing hot. If that sensor goes bad, it will code as well.
The CTS sensor is most likely gone, unless it came unplugged, and when it reports cold like that, the ecm will pour extra fuel to the engine trying to act like a choke. It will open run pretty badly when this happens-particularly in the summertime.