well the thing about freelift systems is the center cylinder will extend first, then when it bottoms out the outer cylinders will start extending.
So if this is what you have when it is raised up to the point of the channels extending the center cylinder will have to completely collapse before the outers will start to drift down IF there is any problems with either of them.

as for the ticking sound that is just packing vibrating against the ram when it gives and drops, that is normal.

One way to isolate the center cylinder away from the other part of the system is to get a gate valve and install it in the main line going from the outer to the center and raise it up... shut off the valve and see if the center stops dropping.
If it stops then the problem is in the center cylinder, if the outer cylinders then start to drop after shutting off that valve then you know the problem is in the outer cylinder safety valve or check valve in control valve.