I just went with new o-rings myself and its been good for a year or so (~10k miles). Make sure you get everything seated and clipped properly, my first attempt didnt take on the intercooler side clip. I reused the old clips maybe pressing them together a little bit to make them tighter, but forget if they are the same part or not.
With that said I'd be surprised if you're getting enough oil to drip on the ground out of the loose hose, although yours does look pretty bad. I went through a similar process and my leak ended up being the turbo oil feed lines which are fairly common failures. Realoem link below - #2 or #3 are usually the issue, I got by without replacing #1 thankfully as its apparently a nightmare. I also replaced #5, #12 , and maybe #7 (I forget) on the drain side just in case, but I wanted to take the small turbo off to check the seal on that anyway.
https://www.realoem.com/bmw/enUS/sho...diagId=11_4264