If you want a working 4WABS system then you need the brake lines as well as the sensors
And does the 4WABS unit have 5 brake line hook ups?
If you just want a working speed system for now and then do RABS or 4WABS later then get one of these
Dakota Digital manufactures digital instrumentation and accessories for the automotive, motorcycle and car audio enthusiast.
www.dakotadigital.com
Fairly easy to wire in, Key on 12v power(and ground), 2 wires from rear axle sensor, 1 wire out to the grey/black wires(they should all be spliced together already)
Very common to use one of these on a V8 swap into a 1998-2000 Ranger
It can do what the Ranger GEM did, convert the 20,000ppm(rear axle) signal to 8,000ppm signal and send that out to speedo, computer and cruise
Its also adjustable for tire size and fine tuned speed, Fords are +/- 4mph calibration at 65mph, just FYI
ABS light can be disabled by removing the bulbs ground wire at the current 4WABS unit
In the 1998 4WABS diagram the pin16 dark green wire is what grounds the ABS bulb when module want to light it up, no ground and no light
EDIT
Actually just unplug the 4WABS unit and pull it out