Well, it could be just a wheel speed sensor... or it could be the instrument cluster... or it could be the DSC control unit. If you want to avoid paying diagnosis fees you can try the rear wheel speed sensors first. If it still happens with new sensors it is more likely to be the instrument cluster seeing that it affects speedometer (left rear wheel speed sensor affects speedometer)

Try this, it is the same sensor on the left and right sides... Swap the left and right wheel speed sensors on the rear. If next time the ABS/DSC/brake lights come on the speedometer still works then it is just the wheel speed sensor. If the speedometer still drops out it is likely the cluster.

i had this problem, with the DSC\ABS LIGHTS on for me the problem was the rotational sensor (YAW SENSOR) Which is located under the center console, once i change the sensor the DSC\ABS PROBLEM WAS GONE....... THE YAW SENSOR YOU CAN GET it for under 100$ i got mine for 25$ of ebay to put in the sensor i had some better than i do it cost 125$ no more yellow\red lights

Are you refering to the steering angle sensor in the steering colum?

I had the same problem with the brake, DSC and ABS warning lights showing, so I tried using the left / right / centre steering trick, which seemed to work.

Here is a video I took of the process:

YouTube - BMW X5 Steering Angle Reset

Good morning I took my X5 to the dealer for a diagnostic of the DSC light almost $900.00 later they said is the Yaw sensor, I purchase the sensor, my question is should I take the X5 back to program the sensor? Thank you in advance for your answers.