I think you have the wrong part. From a quick search the 5-wire sensors are a different type of sensor used on newer cars either called wide band or maybe AFR type sensor. What's the make and model number on the new part?

The wide band sensors are powered so need an extra wire. The older tech uses a simpler system that actually generates voltage like a battery

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2011 E70 • N55 (me)
2012 E70 • N63 (wife)