AFAIK you cannot do this. It would be a great feature!!
I right click the audio track of the click and select Create wave form I then expand the clip so I can see more detail in the wave form. I play the clip and observe where on the audio waveform I want to cut, I stop play and then move the orange marker to that point and make the cut. It is a little bit hit and miss but it works.
You can do exactly that in most versions of MEP by selecting the Audio scrubbing mode from the dropdown beside the speaker icon above the timeline. Scrubbing is disabled by default.
No scrubbing: Scrubbing is inactive. If the playback marker is set or moved, then sound will not be played.
Scrubbing (1 frame): Scrubbing is active and samples are only 1 (video) frame in length. The speed is 25 fps, i.e. 1/25 second. This mode is suitable for positioning the playback marker exactly.
Scrubbing (long): Scrubbing is active, the sample length amounts to approx. 0.5 seconds. In this mode, locating specific events is particularly easy.
Play 1x during scrubbing: If this option is active, the current position will be played one time. If it is inactive, then it will be repeated.
With scrubbing enabled, every time you hold down the left mouse button and drag the orange playmarker or move the jog wheel, the Audio will play once or multiple times for 1 frame or longer ahead, for that position of the play marker.
Remember, Magix comes from a professional Audio software back ground so there are some very professional tools built in to MEP.