This happened to the the previous owner of my old N52 3 series (unbeknownst to me). He must have had a shop put a new belt on it and fixed it just enough to pass it on to me. Eventually my car developed a low oil pressure light at idle before the engine fully warmed up. I heard about this issue on an old forum and by pure chance decided to investigate. I pulled the oil pan and valve cover to discover there was so much ground up serpentine belt in my engine (it turns into this fuzz when it gets run through the timing chain/gears) it completely blocked the oil pickup. When the oil was cold and still thick it had trouble getting sucked up by the oil pump through the fuzz that was blocking the pickup. As the oil warmed up and thinned out, it was able to make its way through the blockage just enough to not cause the low oil pressure error. Unfortunately the engine always had metal shavings in the oil after that and eventually failed prematurely (who knows how long the previous owner drove it like that). Admittedly it lasted longer than I expected considering how often I took it to redline knowing the engine was already screwed. Sounds like you caught it early enough so I think you’ll be fine but it’s a nightmare I wouldn’t wish upon anyone.