The old pushrod V-8's do not share a common bell housing pattern with the later model modular engines such as the 5.4.
That said you would be changing nearly everything to make it work. Including exhaust, transmission, starter, etc... Once that was finsihed you would have to start on making the electrical work, since the 5.4 is an overhead cam engine it utilizes a cam position sensor, crank sensor, etc.... If one of these items is missing the ECU wont know what to do.
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