I have suddenly developed a Squishing Clicking noise when the transmission(700 R4) is cold and I shift to reverse.It is ok as long as it is in park,but when I shift to reverse it makes the sound and it is quiet loud.

Once the engine is started (cold) and running in park for about 2 to 3 minutes the noise is not present when shifting to reverse.

Fluid level checks to be ok. Car performs ok while driving,it's just the initial start and shift without waiting a couple of minutes.