M62 Camshaft Position Sensor (CPS) Replacement ↗
Short M62 V8 job: air box lid, MAF and intake silencer off, one 5 mm Allen bolt holds the sensor; route the new connector behind the dipstick and oil the O-ring. Check every intake joint afterwards for air leaks.
Tools mentioned: 5 mm Allen key, 6 mm and 10 mm nut drivers
Done on a 1998 540i; the article says it applies to all M62 engines.