Replacing Engine Coolant Temperature Sensor

[ZeroDfx]

I have detected a small leak in the cooling system of my 2007 530i where the coolant temperature sensor resides in the lower radiator hose. I understand the rubber o-ring deteriorates over time and allows a a trickle of water to emerge. So I'm about to change that sensor and have a few questions for those who have already done it.

It looks to me as if the sensor "snaps" into place with retaining clips on the side of the sensor when inserted into the lower radiator hose; is this correct?
As a result, I assume I can remove the old sensor by squeezing the retaining clips and lifting up?

I further assume I can do this exchange quickly without having to drain the system and/or remove the lower radiator hose; is this correct? I would expect to lose a little bit of fluid but not an excessive amount.

Lastly, it looks like I'm going to have to do this from underneath the car as access from above seems limited; is this correct?

I would very much appreciate any tips from someone who has performed this swap when they weren't swapping out the hoses too.

TIA, Nick

[ZeroDfx]

Done