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Hey Chris, you'd probably have better luck if you posted this in the 4.6L and 5.4L engine forum. Your question is pretty technical. I know that these motors are notorious for making ticking noises. A lot of the time it is caused by the fuel injectors.
There are some posts all going in the 5.4/4.6 section, But for a quick breakdown; There are no lifters in a 5.4 or 4.6, they are overhead cam. One cause of ticking is from a leak caused by a spark plug backing out, check those out right away, that is a notorious failure.
There are no lifters in a 5.4 or 4.6, they are overhead cam.
That's what I thought when I first read Chris' post, but I looked in my engine manual and there are tappets under the overhead cams. There certainly are not any pushrods in these engines.