More then likely this is due to a failing oil pump but we need to check the basics first. So let's check the oil level and condition.
Here is a guide that helps with this issue:
https://www.2carpros.com/articles/high-or-low-engine-oil-pressure
Then we can assume that the gauge is correct since you are hearing a ticking noise which is an indication of low pressure.
That means if the oil is correct then we are going to have to replace the oil pump. However, first thing you can try is a thicker oil or an additive that thickens the oil and see if this helps.
If not, I suspect we are going to have to replace the pump so I attached the info on that below.
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Sunday, January 3rd, 2021 AT 6:36 PM