The issue would be with the speedometer not transmission(4R70W)
AND fuel system
The explorer/mountaineer used the 4 wheel ABS module for speedometer and computer speed signal
Rangers never did, and in 2002, Rangers used a new sensor on transmission for speed signal, OSS, which you no longer have but wouldn't matter since 1997 PCM(ECM) couldn't use it in any case
So you will need to use a speedometer interface to make this build work, seen here:
https://www.dakotadigital.com/index.cfm/page/ptype=product/product_id=1192/mode=prod/prd1192.htm
You will tap into the rear ABS sensor's 2 wires for the speed source(INPUT) then run a wire from OUT 3 to computer, speedometer and Cruise(if so equipped)
These may already be hooked together with a grey/black stripe wire, so you just need to splice into that 1 wire to feed all 3 the speed signal
Fuel system
1997 V8 PCM was most likely programmed for 30-40psi fuel pressure
2001 V8 fuel system(and 2002 Ranger) would use 55-65psi fuel system
It should still start and run but VERY Rich until it warms up, then PCM can cut back injector open times, and it should run better, but will set Rich codes
Starting in 1998 Rangers the fuel system was changed over to Returnless, one fuel line to the engine bay
2001 V8 should also be Returnless
Returnless ran 55-65psi fuel pressure
1997, and earlier was 30-40psi
There was never a fuel pressure sensor on Ranger or explorer/mountaineer
Expected pressure was just programmed in to the PCM's air/fuel mix tables as were injector size for that year
So computer(PCM) knew EXACTLY how much gasoline would flow out of each injector if it was opened for say 100milliseconds
If fuel pressure is bumped up by 15/20psi, that's a 40% to 50% increase, so 45% more fuel is flowing in than PCM expects, making for a Rich mix
You might be able to run smaller injectors, not sure on how to calculate that
You could run an external FPR(fuel pressure regulator) to set the 35psi, but still may have to change injectors if 1997 V8 ran different size that 2001
Injectors are rated in Pound Per Hour, like 14lb/hr is 14 pounds per hour of gasoline flow at 40psi pressure, 39-43psi is used for fuel injector ratings
Your current setup has the Fuel Pump and FPR inside the gas tank
The fuel filter has 3 hoses
One come from the fuel pump
One goes out to the engine
The 3rd goes back to the gas tank and the FPR inside the tank, FPR is rated for 60psi, not sure you can adjust it for 40psi
You may be better off to send out the 2001 Mountaineer PCM to have PATS deleted, vs running the 1997 PCM with current setup
But regardless you will need the speed interface device, almost all V8 Ranger swaps need that, except 1998-2000 Rangers, lol, they have a build-in interface, GEM module in those years did that