This linkage sits in an area forward of the rear wheel and collects all the road dirt thrown off the rear wheel. The four sets of needle roller bearings should be cleaned out regularely and packed with clean grease. The first time that I took a set apart there was hardly any grease in there and what was there was very dirty.
A piece of timber with another block inserted at the rear can be positioned to take the load off the bearings as the through spindle bolts are removed.
The needle rollers are then cleaned out and packed with fresh high melting point grease. Be careful the first time this is done because of the lack of grease in there you are likely to have lots of loose rollers falling out. Best to place a tray underneath to catch any bits. Once packed properly with grease this will not be a problem in the future. It's a little finger job.
All cleaned and lubed ready for another years service.
So far as I know this procedure is not included in the BMW maintenance schedule.