The picture that you have posted is of the VVT solenoid, it's basically a valve that diverts oil within the VVT pulley unit to operate it. The usual cause of the noise is the pulley unit as shown here
https://www.skandix.de/en/spare-part...tment/1067027/ They are not so easy to get from the main dealers, but there may also be somewhere a bit cheaper than Skandix. I believe it is possible to source some chinese manufactured units, but i don't know how good they are ?.. In fact the one on the Skandix website may even be a chinese one, as the original part is no longer manufactured ?