Well if you got the money honey, we got the time. You got your master cylinder which pressurizes your slave cylinder to actuate your clutch fork. Read all This and you will be 80% there.
If you want to copy their idea, just get some Chevy hydraulic donor parts and/or fab it up.
Mo Money

An old 60's Chevy truck has hydraulic clutch. The bell housing has a slave cylinder mount built in on the passenger side. They had SBC in them. My 60 GMC has one also but it's a BBV6. Then there are some in the 80's, possibly 84 and up Chevy trucks for donor parts.
The hard part is the pedal set up. Need a rod pushing on a firewall mounted master. The good thing is MC connects to slave with a hose but there are two linkage setups to do. The pedal to MC and slave to fork. If you get all the parts and the pedal assy and the bell housing from a Chevy donor truck, you are done. Corvettes have them too.
I would avoid the forkless units. Failures are really hard to fix.
The web says: Be careful T5 does not take high torque, rated about 280. World Class does not increase. Largest factory motor used was 305? Lots of work to install sometimes. Fiddley Diddley install. Gotta get the right set of parts. Many have done it here with no problems I guess. You will hear from someone who did very near your 1953 setup probably.
Is your T5 from an S10?
I have done a lot of motors and transmissions and I like speed and acceleration. I would leave the 700r in there. If your hand is jittery to shift something and you want the look, put in a Lokar Classic nostalgia shifter for automatics. I did that too. A 700r4 and a T5 in the same 53....the 700 will blow your shorts off in 200 feet, even if you don't miss a gear. Both are OD.

Right is right, even if everyone is against it, and wrong is wrong, even if everyone is for it. - William Penn