After making a loud noise while driving transmission will not engage in gear

A loud screech and now no movement suggests an internal transmission failure. When you put it into gear do you hear anything like a rattle or clunk? That may suggest that the failure was in the torque converter. If there is no engagement at all, IE you put it in gear and nothing happens, no change in the engine rpm or even a hint of motion then it is more likely a hard part failure like a pump or clutch failure. For those the transmission would need to be torn down to find the problem. The only saving grace is that being a 2WD it is easier to remove than the 4X4 version.

Things to check before condemning the transmission are few, the basic one would be to have someone hold the brakes with the truck in gear and make sure that the driveshaft isn't turning. While very rare this would make sure it wasn't a failure in the rear end, like a pinion or ring gear failure. Very doubtful but it's possible.

I've had transmissions fail internally with no sounds at all, just poof, no go. Usually that is something like a sheared band or failed seals. The loud sounds are commonly metal on metal contact or parts failure. Pull the dipstick and wipe it off on a piece of clean white paper, look for any glitter that would show metal damage. You might even want to drop the pan to check it for anything that came apart or ground itself up.

If you don't see any metal in the pan it likely isn't the converter, Normally they leave some metal in the fluid if they chew themselves up same with the front pump. You could try running a pressure test on it to see if the pump is turning and if any of them respond when you shift it. Zero pressure would mean the pump isn't turning low would point at internal leakage.