Oil Leaking from exhaust header and on the cyllinder

Hi All, I am brand new to motorcycles and this forum and just bought a 1983 Kz1100 as a project to learn more about working on bikes and as a hobby. I have experience doing car maintenance but wanted to consult you guys to see what people might think the issue is. There is oil leaking from the number 4 cylinder around the valve cover seal but mostly out of the exhaust header connector part. I believe there is also some valve tick happening as well. I pulled the plug for the number 4 cylinder and it looks very oily and black compared to the number 1 plug so oil is getting in the cylinder somehow. Additionally, there is white smoke coming from the exhaust itself. I am pretty sure it is a busted valve cover gasket, but I was hoping to get some input from you guys as well. I am also wondering if you all think I should adjust the valve lash or if you don't think it is that big of a deal. Thanks!

More likely a valve seal

Yup, probably valve seal, and valve lash is a big deal.

I think Mikaw is right.  You probably have a leaky valve seal.  You may also have inadequate valve lash, which is easy to correct.  

Thanks! Appreciate it I’ll try replacing them