Scott...yes you will need to change out your tips IF you plan on mounting the M5 rear diffuser. All of the available options Dinan, Eissenman, and Meistershaft, and others (Remus has a setup also I think) make great Quad options for the F10...all depends on your taste and sound/hearing tolerances. However from what I've been told/seen all require slight modifications to fit the F10 M5 rear diffuser. This is because the outlets line up slightly off form the OEM setup (both M Sport and otherwise). Those who have done it say it can be done okay and easily enough for experienced shops it just requires a little more planning and re-routing/modification to your exhaust install to make it work.
Also from what I've been told and found out from my body shop/tuner the rear of the M5 and the 550i are the same IF the non M car has the OEM M Sports kit. Otherwise the non M Sports kit cars use a slightly different rear bumper. Any F10 can be refitted with the M5 rear diffuser it just will take more $$ for a non M Sport car.
My car is currently being done now and I pick it up next week so if you want check out my post then to get an idea of the setup and details.
'14 F06 650xi Gran Coupe (Carbon Black)- Mine #1
'10 e70 X5M (Sapphire Black Mettalic) - Mine #2
'12 F10 550i (Dinan modded) - Gone
'10 e71 X6 35iDrive SAV (Space Gray) - Gone
'08 e92 M3 coupe (Sparkling Graphite) -Gone