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Drive the car in 1st and feather the throttle around 2800-3200 rpm. Keep accelerating and you'll hear it cut out.
Well, if I am feathering the throttle, how am I going to keep accelerating? What you are describing seems to be more of an engine speed turning off of PSE than a road speed event as described above by Edgy01. Regardless, I have never noticed mine cutting on an off, unless I turn it off with the PSE switch.
Do you have a 997.1 or 997.2? I had PSE on one of my previous 997.1 S cars and did notice the PSE cutting on and off, but never on my GTS.