An update on this, in case someone with a pre 2004 Z4 is considering this retrofit.
Indeed the picture above is the connector for the PDC controller. looks a bit small for a module connector so i was skeptical however upon testing, it seems to produce ~12V and was directly linked to F8 on the fuse box, which is the fuse for PDC. See electrical schematics below:
Pin 1 and Pin 6 on that loose connector are +VE and GND, respectively.
Managed to grab the PDC + wiring loom for sensor + 4 colour matched sensors + colour matched rear bumper for ~280$ (250 euros) which i personally think is a steal! (this rear bumper was in a better condition than what came with my zed)
$508 was added to my VO/FA on NCS expert and coded onto my AKMB and ALSZ (where the vehicle order is stored), using expertmode/factory coding/however the profile is called (should basically have manupilation set to 0). the main NCS profile for restoring your coding on modules. The PDC module was immediately recognized. had to restore the coding for my specific car as this module came from an E46.
All is good. Sensors seem to work fine based on some testing on INPA. Now its a matter of just removing my old bumper and installing this PDC specced bumper.