On the way up it was yes. Then yesterday the noise started on the way out as well. I did not notice it trying to move in my hand as I held it to release braid.Is the handle whacking back and forth at the same time ?
It's a bit of work, but you can wind the braid from one rigger to the other to check your spool.
I would try cleaning your brake pads as well.
Are you using braid? If so you may have a cracked spool. Braid will work its way into the seam in the middle and then expand until the spool cracks. Once cracked the spool will be uneven and wobble when turning.
Take out the spool and look for a crack around the outside near the center.
This has happened to me three times over the past 8 years. This fix is to buy a new spool and tape the center to prevent the braid from getting into the crack. Once taped it doesn’t happen again AFAIK.
Just a thought.