The final drive (4th speed) gear ratio is the same as the 3-speed and the 4-speed manual transmissions: 1:1 in high gear

The ratios of gears 1-4 are different between the H-M and the 4-speed manual transmission.

Reverse gear ratios are different in all the transmissions.

1954 truck manual transmission ratios (forward and reverse)
1954 truck Hydra-Matic transmission ratios (forward and reverse)