If you have a 4.0 in the '92 then yes, you sure can remove the whole system intact from the '94 and drop it right in. I did it, used a '94 Explorer donor into a '92 Explorer. It is a HUGE PITA, you might as well be trying to straighten out a handful of spaghetti while not dropping any meatballs. A year after I did it, the compressor developed a leak and I had to replace everything anyway but I did have working AC for a year for free.
If you have any other engine, it will not work due to where the compressor and hoses locate themselves.
Might be easier to just fix what's in the '92 and convert it to R134a. I opted to replace literally everything when the compressor started leaking. It's a bad rabbit hole to go down if you do it yourself though. I bet I have $500+ into AC tools. You can get by a lot cheaper than that but I ran into problems with cheap gauges that fought me for a while. Also cheap/defective parts... o-rings that leaked or were the wrong size...etc. Refrigerant is not cheap either. Was $3-4/lb, now it's like $10/lb+.