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Sounds like classic valve stem seals. I had a 4.8i that did this too. Pretty much all n62s need them at around 80k miles, n63 which use the same seals seem to kill them sooner. Pcv can also contribute.
The test for valve stem seal failure. Warm the engine up fully. Once fully wam, let it idle for say 5 minutes. With a buddy outside watching the exhaust.... stomp the gas and floor it. If the car smokes you have bad valve stem seals.
Cheapest I’ve seen for the job is 2500 from a guy on the east coast. More like 4K typically.
I had great luck with atp 205 seal treatment stopping the smoke. You can buy it on amazon. Lucas oil also works to eliminate the smoke and reduce oil consumption.
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