Except for the fact that 4D beats everything Noel does, you must fight some really bad Tagers if you think this match-up is winnable, against a good Tager, Noel has nothing, if you get lucky you can manage to get a round off. The match-up is laughable.
You are right that 5B beats sledge, that is the shining light in this match-up. 5B is beaten by 4D.
5D beats some of his normals, but loses to 6A, 6C, sledge. On rare occasions you can 5D through 4D, but its strict.
2D beats his 5B.
In Gadget Finger situations, 4D will beat his 5A, but nothing else, he can also grab you out of it.
If Noel is caught in a blockstring, it is rock-paper-scossors, but Tager only needs to win 3 rounds of RPS, Noel needs to win about 5-6.