Might simply be the heads parking? Check your power saving options if HDDs are set to spin down after a period of idleness. Disable it, and then listen for the noise to appear again.Oh and apparently things might not be as great as I said before, while 'conversing' with Grall earlier in the day a click type noise came from the computer randomly.
Temporarily unplug the burner to eliminate it as a source of the noise...Its happened 4 more times since then, I can't tell if its the burner or the HD.
Also, if you have a SMART utility, look for seek errors. HDDs might click when re-calibrating their heads, if they feel they hit the wrong track a lot. That might show up in the SMART statistics, although it would seem these figures are often unreliable (alledgedly due to manufacturers not wanting to advertise flaws with their product... )
Feel free to quit the Steam client anytime it makes a bother of itself; it will quietly resume download without a fuss next time you start it. Or you could disable auto-updating for the game, but you'd have to do that manually for every Steam game I think, I believe there is no global option in the config menus - which is a bit of a bummer if you ever are on say, cellular internet connection, and suddenly Steam decides to start pulling down a humongous patch, eating up all your dataz for that month...why ohh why do I have to download 2.2gigs... I bought the hard copy to avoid that.