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the sensor is located in the rear axle , all models 92-97 4x2 or 4x4
the truck is also equipped with a PSOM , programmable speedometer/odometer module
the speed sensor feeds the abs and the PSOM , the PSOM then changes the signal and relays it to the PCM . or transmission control module if you like
a blown fuse to the PSOM could be the issue , or a shorted cruise control servo if yours is equipeed with one
after that you most likely have a bad PSOM
on the 4x4 models the the 4 low switch sends a signal to the processor indicating 4 low and the PCM changes the shift strategy based on vss and tach signal accordingly