As well as the larger torque converter, the ‘034’ version for the 4.6iS has an extra clutch plate in the D-brake (5 instead of 4) and the upper valve block has different KV-B and KV-E valves. Yes, you can swap the bellhousing over with the torque converter. The bellhousing casting is the same, it just has the radial webs machined to provide clearance: https://xoutpost.com/1137899-post2.html

Phil