Basically the answer is no.
The offsets on an M5 are et20 and 22 front and rear which are way out and the centre bore is 74.1mm as opposed to 72.6mm for the Z4.
I think it is only the e39 that had a larger centre bore and all the other 5 series were the same as the Z4 at 72.6. Your problem would again be the offset as I think the max offset on a 5 series is 25.
The Z4M offsets are 42 front and 30 rear so you could probably get away with using it on the rears as a temporary measure.