On the driver’s side there’s a secondary heat exchanger in the B8 S4. Air and rain pass through it. There was a small 3" vent behind it in the wheel liner, but on many cars including mine the wheel liner rotted away. I took a pair of shearing scissors and cut away the plastic gridding behind it to make a full size cut out (6" x 6"). With the wheel pointed to the left, it actually does let a lot of fresh air pass over the inside of the rotors.
I don’t really use the fog lights for anything and decided to remove them to let more air flow over the heat exchanger. On the passenger side, there’s a large air gap behind the fog light. I should be able to run an S-shaped tube and cut a small 2.5" hole in the wheel liner to allow additional airflow at speed near the brakes in the wheel well. My 325i had vents like this.