'Squib circuit coupling' seems to refer to the wires that are part of the airbag assembly itself. I had no loss of steering wheel button control. Although the wires are not shared, a bad clock spring seems to also likely mean possible total or intermittent loss of anything controllable via steering wheel buttons. Codes reported may vary based on vehicle year. Searching for this did not provide too many relevant results, and the clock spring code came up different. I had a 'B1BB9' code which is translated as 'Airbag Squib Circuit Coupling' by Blue Driver. If it fails, there is a 'warning ding' and the airbag light illuminates. On my Dodge, the airbag system tests itself after the dash 'bulb check'. If the clock spring isn't the problem, the warning light will come back.
If the clock spring is the problem, the warning light will self clear when the repair is done.