It's used for either the headlight adjustment or the EDC switch on cars that are equipped with either adjustable headlights or EDC.
Not sure if any cars came equipped with both adjustable headlights & EDC. Not sure where they'd put one of those switches if the car had both. Suppose one of them could be installed in the ASC+T 'cluster' in the shifter console.
I think the B10 BiTurbo had an switch for adjusting the boost level in that area. Seem to recall that as being installed in that position on a BiTurbo pic I saw a while ago.
Cosmos Black/Black 1995 540iA M-Sport
BMW Individual Exclusive Edition, 1 of 65 total, 9/25/95 Build