I had the same oval M3 mirror in my Z4M Coupe, and had radarmirror.com add Homelink to it, something he apparently doesn't do any more. It was pretty slick.
In my ZHP, I have an E46 convertible mirror with Homelink, with replaced dim function, again from RadarMirror. Found it on Ebay on the cheap and it solved 2 problems once fixed, adding Homelink without the roof module.
In your shoes, I'd probably stand pat, if the compass is important to me.
My Golf R doesn't even offer Homelink in a $40k car, a travesty nowadays. So I have a stupid dongle on my visor. But it does have a nice digital compass in the cluster, so I've got that going for me, which is nice.
'21 M2 Competition
'08 Z4 M Coupé
'19 Golf R