Searchers for Titanic Tourist Sub Heard ‘Banging’ From Area, Internal Comms Reveal
(www.rollingstone.com)
Man this sounds terrible. But the banging noises will probably stop some time today. The 4 days of oxygen will end very soon.
I'd say it's unlikely they would make banging noises if they were somewhere on the surface, waiting to be found. It's more of a thing if you're stuck underwater and cannot use flare gun, radio or similar equipment.
A few days ago an article explained there are lots of structures around the wreck where such a submarine could get stuck. That would also explain why the sub is not at the surface, as they can just drop weights and it will automatically emerge to the surface.
Instead they hear banging noises underwater.