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Are you SURE it is not an exhaust leak?
I do not run any snake oils like slick 50 or marvels mystery oil...I do however use diesel oil sometimes to clean slidge out of these engines.
I have removed enough oil pans on these engines to know that ones that are neglected usually die because of sludge (Carbon deposits, water mixed with oil) basically not enough oil changes.
The oil pumps on these are engines are bomb proof, if they are spinning they are trying to build oil pressure. Only sludge can stop this, it clogs passages and stops the oil from circulating and draining back
Diesel oil breaks up these deposits, and it does it quickly. I have seen 4.0 pushrod and 5.0 pushrods engines that were making 0-6 psi at idle days/weeks later making 30-40 psi at idle simply by using diesel oil for a change or two.
We need to know what your noise is
It is either exhaust or?
It could possibly be a lower end knock, like a spun bearing or piston wrist pin?
Tick is usually a lifter issue (oil to lifter) or exhaust leak
Knock can be a rod bearing or wrist pin
I use a mechanics stethoscope and flashlight to TRY and pinpoint noises, which side of the engine and how high up
We already know your oil pump is working and building pressure, what we don't know is:
How long was this engine run with water in it? (water + oil = sludge)
Is that oil pressure making it into the lifters? (I doubt it based on what you say and the marks on the pushrods)
So you need to determine if we have a lower end knock (piston or crank) or if it is indeed lifter/valvetrain again (Where my $$$ is at)
If this is the case, forget slick 50 or any oil treatment, what you need is detergents to break up sludge and remove it from your engine (IE diesel oil and drive it around)....
We had a 5.0L with 253K mile on it, replaced transmission and the engine lost oil pressure it would drop to 0-5psi at idle when warm. Drained engine of all oil. FILLED engine with diesel oil and let it sit for a few days, drained the engine
Fresh oil change with diesel oil and drive it around with mechanical oil pressure gauge. Drove it to work and back for two weeks. In 2-3 days the oil pressure started to build and return to normal... that 5.0 is still driving around today last I checked. The detergents in the diesel oil attack carbon and the sludge is thinned out and passages are opened.
Adding a "thicker oil" or oil treatment like Lucas petroleum jelly can help build oil pressure on an engine with bad rings/ bearings/compression = not you
What you are dealing with SOUNDS LIKE a valvetrain oiling issue
Now you see why I usually replace the whole engine with a known good low mile unit. Or at least tear the entire longbock down on a stand and refresh the lower and upper end/heads $$$$$
I will buy a whole truck to get an engine, but sometimes I will go to EBay or a wrecker and get a warranty.
Okay I've been thinking about this can't let it go tell me this why then when I start the truck up is it so quiet I mean of course just for the instance that starts you hear a little lifter noise or something but then it goes away completely no noise whatsoever until a few minutes later when the truck heats up if it was blockage somewhere then wouldn't it be nosey all of the time help me to figure this out