CKP(crank position) sensor was added/needed when distributor was removed from engines.
If you have a distributor, or add one, then you no longer need the CKP sensor, or the external ignition control module(ICM), pre-1995.
BUT(big but) the computer still needs a "timing signal" for the fuel injectors, in pre-CKP sensor Fords, that signal came from the TFI module on distributor.
The distributor rotation and signal IDed #1 TDC for the computer, the CKP sensor does the same but rotates at twice the speed of distributor, so I don't think an ICM computer would work with a TFI signal and visa versa.
Never tried it though