Frank,
If your 300E has ASD there is a turning angle sensor in your steering column that could be worn. Isolating where the noise originates is key. Can someone outside the car hear it? Does it occur in reverse as well as forward? Just a few random ideas for a problem that needs further diagnosis.
Best,
Hazen Arnold
91 300TE 4Matic (some squeaking from the sensor)
93k mi.

__________________
Hazen Arnold
Happiness is a well stocked
garage.