Sorry, for the delayed replies during the Holidays!
According to our previous listings for BMW V47.90 Does list some bi-directional controls with some limitations to specific body codes.
As for this older Version V47.90 has listed the SRS/MRS module as following: Under Special Functions S1 selection menu.
As with most aftermarket scan tools system something may have changed in the actual coverage for this older version V47.90 for E46.
This info is only as compared to previous version V47.90 release date 10-15-2014
3. Added the functions Reset Adaptive Value and Activate DMTL (tank leakage diagnostic module) Pump for the DME (Engine system) under E46, E53, and E39.
4. Added the function Add Production Date for the EWS (Electronic Immobilizer) under E46, E53, and E39.
5. Add the function Enable Seat Occupancy Mat for the MRS (Airbag system) under E46, E53, and E39.
6. Added the function Steering Wheel Calibration for the ABS (Anti-lock Brake System) under E46, E53, and E39.
14. Added the Coding function for the following systems under E90: BMOT (Digital Motor Electronics), FAGB (Footwell Module), and BFGB (Footwell Module)
15. Added the Coding function for the SM (Seat Module) under E39.
16. Added the Coding function for the HKL (Rear-lid Lift) and KOMBI (Instrument Panel) under E66.
17. Added the Coding function for the 2JBBF (Safety Gateway Module (ZGM)) under E87.
They only other solution is to try to update to the latest version of BMW V48.00 shows E46 coverage 1998-2006 for SRS/MRS module special functions S1 for Variant Recoding.