It is a 1946 model that was delivered by GM in the 1947 calendar year.
GM considered the 1947 Advance-Design truck to be their 1947 model.
A registration/title would most likely indicate the calendar year?
Correct. The truck was produced after the 46 cut off date and therefore
titled as a 47, even though it has 46 parts. This practice is still done today.
An example would be a 1999 in a half 2500.
The body is a 2000, engine is a 2000 6.0 but title is a 99.
It is pretty common for a vehicle to be released mid year or late year.
Makes buying parts fun if you don't know what you have.