You won't damage the car with a slipping clutch.
I was going to say remove the drive train to do it. After my experience I say remove the gear box only if you can. There is too much work. But for sure the exhaust comes down and the propeller shaft come down.
The only thing to watch out is the flywheel is bolted on with nine t55 torx bolts. ( I think they T55's. I did only a couple weeks ago.) The torx bolts are integral with the flywheel, meaning the bolt won't come out when you loosen them. Get sharp torx bits and DO NOT put thread locker on the bolts. In fact, BMW specifically calls for oiling the bolts before attaching. The reason is unlike the 525 where the holes on the engine rear flange penetrate the flange. If you don't thread lock them the oil in the crank case will seep out through the threads creating a leak. On the 540, and I think 530, the holes on the flange are dead ended. So no oil will come out throught the threads.
'01 540it, 6/01
'03 325i 5 speed, 9/02
'10 535ix. 9/09
'10 mini 6 speed
'15 mini countryman 6 speed