I had this issue on Z4 when it had around 70k miles.
Its a water pump issue and once replaced, I didnt face that error again.
It may not be the same for you as it only has 7k miles on yours.
O2 sensors, Ignition Coils, Exhaust Sensors etc are the things that generally triggers the engine loss of power message. And these messages come randomly once in a while.
Hope they can replicate the issue and fix at dealership for u.
Good luck.
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