Have no M5 drawings for 1995. Only up to 93. This info is from E34 drawings for 1995, as there are no exceptions for M5, guess they apply also.
Vehicle Speed sensor is wired between terminals 8 and 10 of X271 (12 pins gray) at the instrument cluster. 10 is wired with brown and 8 with brown/red.
There is a processed Vehicle Speed signal that the instrument cluster sends to various control modules, it is in terminal 18 of connector X502 (26 pins black) wired in black/white. Don’t know if it's digital or analogue, nor the burden capacity. Messing with it may interfere with operation of other instruments (IHKR, DME, cruise control, OBC, GM, EDC, and Radio, all of them wired in black/white), you may try it though.
Javier