Question: I know that the ABS main stack in my home is not rubbing against the floor or attic plywood openings; it is rubbing against the drywall in a interior wall when the pipe expands with the use of hot water. The pipe is 3.5" in diameter and the wall is studded out with 2x4's, so the stud bay is 3.5" as well. With such little room to add felt, I was hoping a product existed that was thinner but would still eliminate the ticking noise.

Does any sheet-like product for this application exist? I was expecting to find some sort of two-piece sheet system that would allow the sliding to occur between the sheets but I have had no luck in finding such an item on the interwebs.

Answer: 
Cut out the 1/2" drywall in the affected area & hot-patch in 1/4" drywall. A gap won't wear out over time, but any & all padding, greasing or spraying will. But yes, even a slight temperature increase will expand plastic plumbing.
How hot would a 3" abs stack have to get to make sqeaking or ticking sounds in the drywall cavity. If it wasn't built in the last couple of years 2 X 4 studs were actually 3 5/8" wide leaving you just enough space that it shouldn't tick. I've only seen this happen on hot water lines where the hole through the floor plates were really tight, never on abs stacks. For the record cast Iron had big hubs for the joints and ween't used when I got in the trades in 72 not worth talking about. I would be thinking hard about how your hot waterline goes