YEP^^^^^
Water Heater HOT Out 'check valve' is failing
It is a cheap plastic plunger/spring/o-ring assembly in the 'nipple' screwed into WH Tank
**Winnebago sometimes uses TWO.....one in Hot Out and also one in COLD Inlet (either could cause the noise but typically Hot Out)
Scale/calicum build up, o-ring gets dislodged, spring weakens etc.
Replace it (water supply OFF, pressure relieved, unscrew hot water line fitting, unscrew nipple----replace with new then connect hot water line)
Or wait until it blocks hot water flow completely --- usually when on a camping trip
Check valves are used instead of shutoff valve because they are cheaper/less labor and can be installed in water heater prior to installation in RV
Check valves are used for 'winterizing' ------prevents backflow thru hot out when WH Tank is Bypassed
I prefer a Hot shutoff valve vs those cheap check valves
Example of water heater plumbing using a check valve