I replaced my sensor and still got the same warning which led to having to replace the wheel bearing. The sensor is relatively easy to replace. It's not as easy in the rear as the front as it requires getting under the fender lining. The replacement of the wheel bearing is also more difficult in the rear as the front. It was only going to cost about $320 to replace the bearing (parts included) if things had gone as planned.
'13 35i M-Sport X3 | JB4 Stage 1 | BMS Intake | H&R Springs | Gloss black grill | CF Wrap and Coded by me | Recaro Child Seats
'15 M3 DCT AW/SO | JB Stage 1 | RKP Diffuser | P3 | M Perf Spoiler | iND Exterior Trim | Recaro Child Seat