Yes, it could be, but nothing replaces a physical inspection. Since you have had issues with the front CV joint and heard the noise at that corner, you need to look at everything from the transfer case to the wheels. If it is the transfer case that implies the front driveshaft output from the transfer case, not the internals of the TC itself.

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2007 X3 3.0si, 6 MT, Premium, White

Retired:
2008 535i, 6 MT, M Sport, Premium, Space Grey
2003 X5 3.0 Steptronic, Premium, Titanium Silver
2002 325xi 5 MT, Steel Grey
2004 Z4 3.0 Premium, Sport, SMG, Maldives Blue