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I wouldn't characterize lifters as a knock, more of a loud clicking.
A knock could be engine bearings or perhaps piston pin. Try a lighter weight of oil, it should increase the flow a little, a needy bearing might appreciate it.
I had a "Knock" on startup with my F100 one time. I do think it lasted a little more than 5 seconds though, increasing the rev increased the speed of the knock, and then it would go away. It was the main bearings.
I had a similar problem with one of my old 300s. I kep the same weight oil, but switched to a synthetic blend. The knock went away and never came back.
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