Is it normal to have the AIO make bubbling sounds when it starts up?

I would ask Enermax, I do not hear mine. Bubbling sounds like air in the line which I think is bad. Keep an eye on temps. Either get aida64 or Open hardware monitor. The second one is free and would be fine to monitor the CPU.

does this come with thermal paste already installed on the cooling block?

yes.. but i used liquid metal..

Questions & Answers: ENERMAX LIQMAX III SF 360 ARGB AIO CPU Liquid Cooler - 360mm Radiator, Dual-Chamber Water Block, Triple Pressure-Optimized Silent Flow 120mm FDB Fans up to 1800 RPM - LGA 1851 & AM5

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ENERMAX LIQMAX III SF 360 ARGB AIO CPU Liquid Cooler - 360mm Radiator, Dual-Chamber Water Block, Triple Pressure-Optimized Silent Flow 120mm FDB Fans up to 1800 RPM - LGA1851 & AM5

Equipped with ENERMAX Silent Flow Fan
Patented Dual Chamber Structure - Increase lifespan without compromise efficiency
Central Coolant inlet Design and Patented Shunt Channel Technology
Pre-applied Thermal Grease for better user friendly
The luminous addressable Aurabelt water block
Support Intel LGA 1150, 1151, 1155, 1156, 1200, 1700, 1851, 2011, 2011-3, 2066
AMD AM4 AM5

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