I believe the BMW engine has a camshaft sensor problem, I know there has been a V8 in Lifes for ages , that is/has gone back to the factory after BMW engineers couldn't fix it.
fwiw, Google search results often give a good idea of how common something is - if you can track the spread of flu by then number of searches, you can likely judge how often an engine problem arises.
The N62 4.4 has a handful of threads on Reddit about the camshaft sensor failing & producing EML & code errors. It's a $70 part: changing it seems to fix the issue.
There's one thread for the 4.8 engine.
Given that the BMWs using the engines are 15-20 years old, that the engine in BMWs is likely to have much higher mileage with relatively infrequent servicing compared to a Morgan, that doesn't feel like a common problem for this 4.8 N62 - nor does it appear expensive to fix.
Will