Red tool is only for some E70 models. I asked in the service department and they had a tech pop out the bottom of the left front cup holder and he showed me where the fitting would have been but later models you have to go underneath and screw in or out a screw to free up the tranny.
I thought somebody had stolen my red tool and bought one but the vehicle never came with the tool because it would not work on the tranny. However, it can be used to release the parking brake but using it to pull on the release cable in the back.

__________________
Sent via Telegraph Wires using my Morse Key.
2021 X5 xDrive40i
2015 X5 xDrive35i MSport
(Traded) 2013 X5 xDrive35i