At least pull that cover off the timing belt, remove the spark plugs and see if TDC of Cyl 1 (The one closest to the Crank pulley) can be made TDC, without any sort of friction you could hear as a tap or tonk when the piston arrives to TDC - another piston is also going there too - so all those plugs need to be removed so you can only deal with clearance and the aspect of the two cams - keep it simple for now. Although not as easy to see - you can note the symmetry of the cams when they are closed and you pull the crankshaft pulley bolt clockwise (forward) to observe the two cam chambers move and determine which arrives first to TDC.
- It would also be a good idea to scope the compression stroke of any cylinder at TDC to see if a set of valves remain stuck out - you'd see it in the scoping probe shot. It would also tell you the side affected, Intake or Exhaust and or advance, jumped or retard jumped (Closed vane but valve open).
- Right at this moment the oil pressure and the distance of throw that chamber has in advance - gives your motor a fighting chance to keep going without any cylinder head service - it runs - so fix the advance to clear the code and you might be ok.
The rattle tink sound I hear in the vid tells me advance timing issues, but in the older days, engines like the Chevy V8 didn't have this type of cam advance. Instead - it used a timing chain on a single cam with rods and lifters - and if it slipped, can cause interference. But you'd hear the rattle sounding like a type of over-advanced spark knock - but would occur at idle - which any mechanic would know is not right. What would save the motor is quick action and the lifters being pumped full of oil would "bleed down" from the valve striking against the rocker side of the lifter - which - by impact - used the oil as the "gap" that kept the valves from getting too mangled - and a tow to a service shop took care of the rest.
Left alone; the cams and their advance units will eventually fail and even their oil seal will fail - making an even bigger mess to clean up and force you to redo the cams entirely.
Right now, by sounds, the advance issue can be investigated but don't run the motor too long for this also affects the fuel trim.