Just a follow-up and to close out this thread.

I posted this in July 2021.

About ~ 3 years later, I now have a free weekend to replace the Front Brake rotors/pads. It has been busy with work/family lol.

Rotors = Zimmerman.
Pads = Jurid.

I measured it...

You can see the Outer pad is about 6 mm, Inner Pad (screwdriver pointing to it) is about 4 mm.

This is such a wasteful system, if one is short of budget, one can always do the sensor trick as I posted so the dash light is off.
And be a responsible driver, checking the Inner pad every 5K-10K miles. You can safely push the inner pad to 1-2 mm, again, do this if you are a responsible driver.

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1998 E39 528i 5sp MT
2006 E53 X5 3.0 6sp MT