Noel posted a superb 1.44.09 on the back of a second run of 49.79 seconds.
Austria’s Johannes Strolz claimed silver and there was a bronze for Norway’s Sebastian Foss-Solevaag.
Ryding – who finished an unlucky 13th – said: “I left myself with way too much to do on the first run and for some reason I didn’t have my best skiing today.
“It’s slightly disappointing but at the same time, it’s very tight. I was missing my ‘A’ game really.”
But the Bretherton ace, 35, was philosophical after again finishing without a coveted medal in his fourth attempt in a Winter Games.
He added: “I’ve no regrets in my career. I always do what I can, you know?
“Every day I put out what I’ve got, that’s what I’ve always done.
“The Olympics won’t define me because I’ve had a great career but you always want to top it off with something special, but yeah, it wasn’t to be but I think I’ve got another year in me.
“I’ll keep trying, keep doing the World Cup and see what we can do next year.”