Head gasket retorque
Yes. By all means it's worth a try.
"Caution! Tighten cylinder head bolts after 1000 km
(600 miles). This is done by loosening the bolts slightly and then
tightening them to the spcified torque¹." from the repair manual.
The reason to loosen slightly first is to overcome friction; But, if you find one loose before tighting; that's reason enough for a closer inspection of the block/ threads.
It's probably a good idea to run a leakdown test.
For grins, try an oil pressure guage. The oil relief valve has been known more not to hold as it ages and BMW changed the design; you're issue could be the opposite and just needs cleaned. Worth a check though.
There are instances of the dreaded gasket seep that were reported early on by the seniorsix and e-12 members.
Mind if I ask where abouts the seep is located? Back of the head closest to the firewall?