1st, its a flex plate not a flywheel with a '98 Ranger & Automatic transmission (there are Automatics with flywheels, but they are rare beasts).
The transmission shop that rebuilt my last couple automatics, insists on new torque converter - if you have it apart, replace it - so, you don't have to pull it apart again right away..
the torque converter always rotates (ahem, should always) at the same speed as the crankshaft.
the center nub has nothing to do if the 4 bolts are working.
I would replace the input seal on the transmission while it's out.
and the rear crankshaft seal.
the 4 nuts are friction fit/lock nuts, get new ones.
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