Did a few runs in 4A and 4A w/sport and cannot gear the noise.switch back to 2wd and immediately comes back. Is it possible that it’s the transfer case clutches? Maybe the cv axle is spinning enough to cause the clutches to make some noise? Wish there was a way to make the cv axle not move at all in 2wd.
Your results indicate that the IWEs (hub disconnects) are partially engaging under heavy throttle, causing the noise. The hubs are held in the released position by vacuum, so when engine vacuum drops due to heavy throttle, the hubs can start to engage if there is an issue with the check valve or a vacuum line leak. You won’t hear the noise in 4WD because the hubs are already fully engaged and vacuum is not being applied.
The TSB posted by @RustyNutz instructs the dealer on how to resolve the issue.