Well you only need to unbolt it from one end of the pipe, to release any potential back pressure...
On the faulty sensor as its located on the rear axle, apparently it triggers the safe mode to protect the box in case there is a mechanical fault.
Again heed to my disclaimer its only feedback I am getting from a BMW addict he had something similar that turned out to be the the DSC/ABS module on his 330 but they did the other checks first.
Good Luck!
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