Good morning,
Was there any debris in the pan and on the magnet when you dropped the pan?
This transmission has the worse reputation with Ford on there trucks. They only used it a couple of years and then went to the 4R100 as a replacement.
https://www.2carpros.com/articles/automatic-transmission-problems
As far as the engagement issue it sounds like the forward clutch pack is not working.
Did you let it sit and idle for about 20 minutes prior to trying to move it?
I attached a flow chart for the issue but you will need a pressure gauge to test main line pressure to be sure the proper pressure is being delivered.
Roy
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Wednesday, March 24th, 2021 AT 1:25 PM