Possible Cluster or Vehicle Speed Sensor failure.
Located on the Driver's side of the Transfer Case. The VSS is driven by a gear in the TC. As it rotates, it generates a "pulse train" signal to the Powertrain Control Module. The PCM measures the frequency of the signal and sends that data in a multiplexed signal to the Instrument Cluster where it is all decoded and the gauges are driven.
As there does not appear to be any CEL (Check Engine Light) events happening (or are there?) then the cluster is a bit, IMO, more suspect. Re-seating the cluster in it's connectors may be in order. there are threads here that document the process. Not difficult, just consumes a bit of time...
The "normal" Speedometer failure is that it stops working all together. This one is different which may be why no advice.
Usually, when the VSS fails, you get a CEL for the VSS. It is a monitored component.