Ditto, The oil light will come on when you "get on it" so to speak. Once the engine comes back under normal conditions, the light goes out. This does not mean that your oil level is low. Do not add additional unless you can see in the window that it is down.
The ticking noise is normal as well. Use higher octane fuel, should quiet it down a little. Mr. Max likes high test......will run on the lower stuff just fine, but the higher octane stuff helps the ticking sound a little. It's because the engine is so large comparably. Imagine it was a Corvette engine. Use low octane and it ticks like a clock. Use higher octane and it doesn't.
I'm not an engine mechanic, so I don't know the reasons for it, but it works with my bike. I just rode 11 hundred miles. Used low octane the whole way, ticking got worse. Got home, used high octane for the last two fill ups.......gone.
Good luck.