This isn’t the right forum for this question. There’s an e60 M5 dedicated forum:
https://e60.5post.com/forums/index.php
However, to answer your question, it’s definitely not recommended. The 285/35 is 1.1” larger in diameter than the 285/30 (4.1% change in diameter). The stock rear tire size was 285/35-19. This means your speedometer will be off by at least 4.1%. Also, depending on how aggressive your wheel width-offsets are and how much you’ve lowered the car, there’s a good chance you’ll have clearance issues with the fenders and/or fender liners.