As written, neither version is OK. They both require some punctuation.
Ice possible - drive with care
or
Possible ice - drive with caution
Of these, the first is probably better.
As has been noted, my answer assumes that this is a road sign, where brevity and clarity are paramount. For a road sign, the most important word is 'ice'; the rest is less important. That is another argument for the first version above.
If you are writing running text, then you need to do more work, such as:
The road may be icy; drive with care.
You could use a dash instead of a semi-colon. You could write 'caution' instead of 'care'. You could even treat it as two sentences:
The road may be icy. Drive with care!
the vehicle means any private hire vehicle licensed by the Council
public service vehicle means any motor vehicle used or adapted to be used for the carriage of passengers for hire or reward, and includes a maxi cab, a motorcar, contract carriage and stage carriage.
Eligible Vehicle means, on any date of determination, a Group III Vehicle manufactured by an Eligible Manufacturer (determined at the time of the acquisition, financing or refinancing thereof) and satisfying any further eligibility requirements specified by the Rating Agencies or in any Series Supplement for a Group III Series of Notes (other than with respect to the Maximum Non-Program Percentage and the Maximum Manufacturer Percentage), or with respect to which all such eligibility requirements not otherwise satisfied have been duly waived by the Required Beneficiaries in accordance with the terms of the applicable Series Supplement (if such waiver is permitted thereby); provided, however, that in no event may a Group III Vehicle be an Eligible Vehicle after (x) in the case of a Program Vehicle, the expiration of the applicable Maximum Term (unless such Vehicle has been designated as a Non-Program Vehicle pursuant to Section 14 of the Master Lease), or (y) the date which is twenty four (24) months after the date of the original new vehicle dealer invoice for such Vehicle.
base vehicle means any vehicle which is used at the initial stage of a multi-stage type-approval process;
Salvage vehicle means any vehicle which is within the last ten (10) model years and which has been damaged by collision or other occurrence to the extent that the cost of repairing the vehicle for safe operation on the highway exceeds sixty percent (60%) of its fair market value, as defined by Section 1111 of this title, immediately prior to the damage. For purposes of this section, actual repair costs shall only include labor and parts for actual damage to the suspension, motor, transmission, frame or unibody and designated structural components;
Junk vehicle means a vehicle of any age that is damaged or defective in any one or combination of any of the following ways that either makes the vehicle immediately inoperable, or would prohibit the vehicle from being operated in a reasonably safe manner upon the public streets and highways under its own power if self-propelled, or while being towed or pushed, if not self-propelled:
Light vehicle means a motor vehicle commonly referred to as an automobile, van, sport utility
Tank vehicle means a commercial motor vehicle that is designed to transport any liquid or gaseous materials within a tank or tanks having an individual rated capacity of more than one hundred nineteen gallons and an aggregate rated capacity of one thousand gallons or more that is either permanently or temporarily attached to the vehicle or chassis. A commercial motor vehicle transporting an empty storage container tank not designed for transportation with a rated capacity of one thousand gallons or more that is temporarily attached to a flatbed trailer is not considered a tank vehicle.
School vehicle means any school bus, school van, other school vehicle and private vehicle used to transport students or staff members to and from school or any school-sponsored activity or event.
goods vehicle means a motor vehicle constructed or adapted for use for the carriage of goods or burden of any description or a trailer so constructed or adapted;
Exotic Vehicle means antique cars that are over 20 years old or have not been manufactured for 10 or more years or any vehicle with an original manufacturer’s suggested retail price greater than $50,000.
complete vehicle means any vehicle which need not be completed in order to meet the relevant technical requirements of this Directive;
Replica vehicle means every vehicle of a type required to be registered under this title not fully
Private Hire Vehicle means a licensed vehicle constructed or adapted to seat fewer than nine passengers, other than a hackney carriage or public service vehicle, which is provided for hire with the services of a driver for the purpose of carrying passengers
Laden vehicle means, except where otherwise stated, a vehicle so laden as to attain its "maximum mass".
Off-highway vehicle means the same as that term is defined in Section 41-22-2.
Transport vehicle means a motor vehicle or rail car used for the transportation of cargo by any mode. Each cargo-carrying body (trailer, railroad freight car, etc.) is a separate transport vehicle.
Unladen vehicle means a vehicle without driver, crew, passengers and load, but with a full supply of fuel, spare wheel and the tools normally carried.
Flex fuel vehicle means a vehicle with one fuel storage system that can run on different mixtures of two or more fuels.
Subject Vehicle means the vehicle being tested.
Public Vehicle means any air or land vehicle, river or sea-going vessel operated under licence for the transport of fare paying passengers. Public Vehicles do not include vehicles chartered privately.
Bi-fuel vehicle means a vehicle with two separate fuel storage systems that can run part-time on two different fuels and is designed to run on only one fuel at a time;
passenger vehicle means a motor vehicle (other than a motor cycle or invalid carriage) constructed solely for the carriage of passengers and their effects and adapted to carry not more than twelve passengers exclusive of the driver, and not drawing a trailer;
Gross vehicle weight means the weight of a vehicle without load plus the weight of any load on the
Off-vehicle charging hybrid electric vehicle (OVC-HEV) means a hybrid electric vehicle that can be charged from an external source.
Not off-vehicle charging hybrid electric vehicle (NOVC-HEV) means a hybrid electric vehicle that cannot be charged from an external source.