Knock noise<

[Brockett]

Have you heard a Tony Hancock episode called " the test pilot"  it's on Youtube..... " I can hear a peculiar knocking sound".....

[Gert]

Kindly clarify which year your model V-Strom is and did you ever get around to installing the lowering links / dog bones as hinted at, in one of your previous posts.
There have been a report or three, of the rear wheel rubbing the mudguard and maybe even the exhaust collector, under certain conditions. Have a look at the pix shared on rear wheel travel warning discussed in https://www.vstrom.info/Smf/index.php/topic,10894.0.html.

[Silverback]

If it's knocking on a smooth road then my money's on a seized link in the chain or a slight bulge in the tyre....have you checked them?