Yes, I came to that conclusion as well.
This weekend, I started up the engine to get it warm because on Facebook someone had said they encountered problems with the T&D spacers getting tight when hot. This time it made the ticking right away when I started it cold. Then the ticking came back when it got hot again. I took the valve covers off, and the front spacer was tight. So I removed the rocker assembly and took about .015" off the spacer and flipped around the shims on either side of the second tower (one shim is .003 and the other is .009)
Then I looked at the adjusters. They seemed to be all over the place, but the rockers that had low oil flow were the ones most out (up). I removed the adjuster and measured the position of the groove in the adjuster relative to the hole in rocker arm and this could be causing a restriction. Also given they were so far up it could mean not enough preload. So I recalibrated the pushrod drag method and reset the preload looking for a lot more resistance. The result was a major gallop indicating at least two cylinders didn't have compression. I could tell, I was opening some valves when setting the preload, so this wasn't a big surprise. I tried it and it didn't work. When I turn the engine over during the lash setting process, the lifters get spongy because I assume the springs squeeze all the oil out of them. So in my next attempt, I set the lash to take up all the sponginess which I assume is the bottom of the hydraulic travel, then I backed them off 1/2 turn. This resulted in much more consistent cylinder to cylinder adjustment and everything was in the range to provide good oiling to the rocker arm.
It started and ran quiet until it was fully warmed up and then the ticking returned. So the problem isn't solved.
I don't think this is a weak lifter problem because I've changed all the lifters once. The first set of lifters were probably Morels, they came in a Crane box that sat on my shelf for almost 10 years (2007 vintage). I changed those to a new set of identical lifters from Howard's Cams in 2020. The lifter change didn't have any effect on the noise.
Could this be as simple as switching from 10W30 to 5W30? That seems wrong considering the problem shows up when it is hot.
The other thing I'm thinking is some kind of restriction in the oil feeds, but that wouldn't explain why the sound goes away when cold.
I'm kicking myself for never measuring the lifter bores when I was building it, or back in 2020 when I changed out the lifters. They didn't look bad, and the lifters weren't sloppy in the bores, but that is one area that might be a problem.