I'm fairly sure the tip size between 540i MPE and stock 550i is fairly similar, if not identical, since they use the same bumper trim (either #51192412410 for diffusor, or 51128067763 for stock) that has the cutouts
I put up some measurements a while back between stock and MPE here, which should give you an indication of how much size difference there is.
https://g30.bimmerpost.com/forums/sh....php?t=1612558