The CCT makes a range of sounds and "could" be the ticking sound you are getting.
Best way to find out is get your ear in to listen and find the source
Among other things:
If it is from the RHS of the engine it may well be the CCT
Top may be valves etc
If it is a knock it could be from the bottom end
Check your exhaust over very carefully too, a minor leak will give a tap and the mild steel pipes are prone to rusting v easily. May be able to weld this but often a blob of exhaust putty will do the trick.
Ah and low end power is pretty naff on most sporty 600 IL4s - CBRs included