IMO it's the oil filter. My 07 5.4L w/ 215k on the clock was doing the cold knock here and there. Even after oil changes. I always used Motorcraft oil and filter from Wallyworld because it was the cheapest. I switched filter brands and what a surprise, not a sound. My guess is the backflow preventer in the filter is weak allowing the oil to drain out of the filter and top end. If you have a vertical mount filter like on a SBC or BBC, the backflow preventers don't matter as much. When the filter is horizontal like on the 5.4L they do matter.