It's a well documented N52 issue, BMW originally issued guidance to dealers to bleed the HVA, but that wasn't a long term fix so withdrew that advice and started to selectively replace some cylinder heads at huge expense. Then (as the bills piled up) BMW said it was harmless and knocked back claims so owners have been living with it ever since. See SIB below re affected cars production dates (US calendar i.e. Month/day/year )
Previous post https://z4-forum.com/forum/viewtopic.php?f=3&t=10937
BMW Service Information Extract dated September 2009
This Service Information bulletin supersedes SI B11 09 07 dated January 2009.
SUBJECT
Intermittent Hydraulic Valve Adjuster (HVA) Noise
MODEL
All E82, E83, E88, E85, E86, E60, E61, E70, E90, E91, E92 and E93 vehicles with N51, N52 or N52K engines produced approximately up to November 31st 2008; refer to cylinder head casting identification attachment.
SITUATION
An occasional ticking or rattling noise from the camshaft hydraulic valve lifters (HVA) may occur during cold engine starts, due to frequent short-distance driving, or the noise may occur for an extended period of time even though the engine is at operating temperature.
Improved parts were phased into production beginning on 10/1/2008 and fully implemented on November 31st 2008.
CORRECTION
Do not perform the bleeding procedure that was previously provided in SI B11 09 07 which has now been deleted.
All vehicles produced between 10/1/2008 and 11/31/2008 must have each vehicle’s cylinder head casting number identified before hydraulic valve lifters (HVA) replacement, due to staggered implementation. Refer to the attachment for the casting number location. Vehicles produced after 11/31/2008 have already been fitted with improved parts. Vehicles produced prior to 10/1/2008 will require the new parts.