The SM420 is not an OD, it is 1 to 1 in 4th gear just like your original trans. T-5's are light duty and probably would be unsuitable for a larger vehicle. It is also unlikely that you can fit a Gear Vendors OD unit in the space between the trans & transfer case. You might look for a 5 speed from a late model full size truck. You are in for modifications to several components no matter what you select.
Fred


1956 3100 Pickup/Red/350/3sp OD/PS/Disc Brakes
1957 Bel Air Sport Coupe/Red/355/TH350/PS/Disc Brakes
2017 Silverado LT Single Cab SB/Black/5.3/6 Speed Trans
1947 Willys CJ2A w/F-Head engine