Interesting article about diagnosing engine noises, with references to effect of temperature, load and speed, probably the most thoughtful I've found:
https://cat-engines.blogspot.com/2017/10/basic-engines-evaluating-engine-noise.html
If no stethoscope, suggests long thin screwdriver or piece of hose.
It doesn't mention the the mallet/screwdriver tapping method.
Trying to use a few facts about how realistic the mallet/screwdriver tapping method is:
The service limit for the big and little end bearings clearance combined 0.35 mm... but only one of those bearings might be worn... so we are looking at judging around 0.2mm. Assuming that a bit beyond 0.2mm knock will start to become evident?
So it's probably like judging spark plug electrode gaps: if they do it a lot, some people can get quite accurate by eye alone. But a novice has to use a feeler gauge. Trying to measure piston movement to tenths of a mm at an angle through the PC chamber port would be tricky.
If not all conrod bearings are grossly worn, it might help identify which cylinder/s are OK, if we can determine the difference in tenths of a millimetre.
Rings worn limits:
Service limit for rings in the grooves is 0.2mm, so if the piston bobs up and down more than 0.2mm without ring movement (hard to tell), then there's a ring groove clearance problem. Try measuring that by sticking something through the PC chamber at an angle... impossible - and the crank would have to be rotated a few degrees while doing it to prevent the journal clearances - if they are OK - confounding the measurement.
Conclusion: tapping method impractical for all but (maybe) regular users of the method who have a lot of skill, and who over years have stripped engines down and confirmed that their tapping diagnosis was right.