hard drive noise when caching

Yes, it’s very likely. As readycache only caches certain most accessed LBAs (not whole files), their position on the hdd won’t be much sequencial, so those very small random reads can get a bit more noisy than usual. You’ll probably hear the same with a random read/seek time benchmark on your hdd.

I have the same happening both with readycache and it’s cache drives and a Seagate SSHD while caching the platters on it’s own.

One way to reduce such noise is messing with an HDD’s AAM setting (if available!) with proper tools (hdscan, crystaldiskinfo, hdtune, etc), but seek times will also increase substantially. This bad on a OS drive, but not so noticeable on a storage drive.