Although it has been done, there are really a lot better options. The 4.6 is absolutely huge when compared to the more common V8s thrown into a ranger, like the 302, and 5.3/6.0 LS truck motors. Just take a look at this 4.6 next to a 302.
So what does this mean? A lot more fitment issues, and a lot more custom fabricating. It can be done, but expect to completely modify your front subframe, steering assembly, and the 4.6’s exhaust route significantly.
Not to mention you have possibly the most difficult chassis to swap with, post 04 has the digital cluster, 2010 had traction control, and all sorts of electronic gizmos that will need to be completely rewired or even redesigned/removed to get a 4.6 working. But, I just say this to let you know what’s involved. The mod motor 4.6 2V sounds so good, and would be BADASS in a ranger. Just be weary of what you are getting yourself into.