I had a similar issue, and I had RTV clogging up the pickup and the oil filter. Check for that if you just put your engine together. The oil had to be flushed several times in my case, and it works perfectly now.
Also, there could be a missing gasket on he oil pickup assembly, or the return valve could be stuck open.
I ended up priming it …used an old oil pump gear drive ( knocked the gear off) and a distributor spindle. Ran the craftsman drill in reverse and I started to see oil at the head. What a pain!
Then I had the deal with the air lock in the cooling system!