You are hearing correctly a knock sound - Under some conditions the ECM may have too much timing that is trying to drive the engine backwards. It's a (likely harmless) design defect that would be ignored by the OEM's. Maybe a tune could correct it. Recall diesel has an ignition delay after being injected. The hotter things are the faster the diesel evaporates and lights off. So under some conditions the engine is hotter than the ECM is programmed for and the end result is a little too much timing. For a fixed "injection" timing the light off and peak cylinder pressure can change depending on the fuel and how heat soaked things are. 115 degree AZ is different than a cold MI winter day. Humidity even affects this: dry being worse than damp.
In experimenting with B99, biodiesel, our 2008 Duramax when towing a specific grade would ping/knock like this. B99 would change the sound. The condition was the Allison Trans lugging the krap out of the engine towing a specific grade letting the ECT run away past 235. Everything was getting heat soaked and this the ping sound would come on. It really needed to be in a lower gear for these conditions. There wasn't anything to tune in the base code to allow a downshift for ECT runaway, but, we did have it aftermarket EFI Live tuned to cut timing in that operating condition.
Now you know generally what is going on. I have read about others asking the same.