1990 Chevy suburban engine oil cooler

Any cooler is to increase the basic cooling capacity of a vehicle when there is a need for more, like towing trailers or boats. Check to be sure your cooler is for the engine and not the transmission by tracing the lines or the color of the fluid. What you have may be an "add-on" unit that could be replaced with another after market unit. But for the time being, I think it would be fine to install a by-pass line just so it doesn't fail and cause a sudden fluid loss. There's not a lot of circulating pressure but it will be a hot fluid that could make a hose fail.