Found the sensor at FCPEuro for $190 Bosch OEM. Cheapest from the dealer is $543 at thebmwminipartstore.com.

https://www.fcpeuro.com/products?utf...ds=34526777435+

https://thebmwminipartstore.com/part...&siteid=218365

And here're the instructions for replacing it on my 2005 4.4. https://www.newtis.info/tisv2/a/en/e...onents/ERnob4W

I'll go for the Bosch from FCPEuro since they have life-time replacement. From the product description it sounds like this is an important safety component, hence I'd rather replace it than code it out:

Product Details
This sensor works in conjunction with the steering system to detect when the vehicle is going sideways and allows the traction control system to engage.

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'05 E53 X5 4.4i, '97 E39 528, '07 E92 335i, '16 F86 X6M.