The one and only one I've seen was years ago, but the above part is not the device. I thought it was an adapter that attached to the oil filter's present position. And then allowed a third party "oil filter head" to be connected by rubber oil hoses which could be mounted anywhere.
As such, you could do the same yourself, and much cheaper. Procure a GS oil filter cover (which does not have the thermal control unit inside). Make up a turned aluminum tube to take the place of the present cartridge filter. Then in place of the GS oil cooler you add your external spin-on oil filter.
Pretty simple and would pay for itself. When I did this years ago on a Triumph 650, I standardized on filters for the 1998 Toyota 4-cyl which cost $3 ea. When was the last time you got a $3 filter for a BMW ?
The point remains. The spin-on filters have that by-pass valve built in.