Hi, I have a 2004 LX470 that has the hitch receiver in the bumper, BUT I didn't want the use the receiver in the bumper (it was higher than I needed, didn't want to remove the cover, and if I remember correctly the hitch contacted the spare tire when inserted in the receiver). I added an aftermarket receiver under the bumper.
There are two main styles of these under the bumper aftermarket receivers, under multiple brand names. The main difference is that one style has a box that goes around the tailpipe, and the other style has a bracket that goes above the tailpipe. In my opinion, there really isn't that much difference and its really up to looks. They are available from many resellers online, pricing is about $200 to $250 with shipping.
It's been a while, but I'm pretty sure I installed a Reese 44546 and it did NOT require moving the tailpipe (it has the bracket that goes above the tailpipe). I might have unhooked one of the tailpipe rubber supports while installing (easy), but I don't remember doing that or any problems with the tailpipe. I bought mine from either Amazon or www.etrailer.com can't remember, but I do remember that the hitch was delivered with no packaging, just a label and a bag with instructions and bolts taped to it.
On my LC, I have the style that has the box that goes around the tailpipe, but I didn't install this one, it was on the truck when I bought it. Honestly, there really isn't that much difference that I can see in the two different styles.
Some members will tell you that you give up some ground clearance by installing a receiver under the bumper, and it is probably true, but I think this is insignificant if you are still running stock bumpers, running boards, and still have your spare tire under there (the spare tire is lower than this receiver)... I have been very happy with mine and have no complaints.
I bought mine on Etrailer. (Landcruiser not LX)
It was <$200 and fit great. I went with the draw tite one. I did not have to drop the exhaust to install, but I did have to relocate the trailer harness plug. And there was a little backing plate for the bumper that had to be removed. Otherwise an easy job.