To replace a knock sensor or not?

One possibility that I like except for the expense is to try changing the knock sensor. There was also a tapping noise from a loose lifter that triggered the knock detection (on a Toyota years ago) which then caused the computer to retard the ignition timing. That did affect performance in a bad way. Somebody should listen for tapping noises just for the sake of being thorough. It didn’t make the engine chug though.