cut the shielding!! inside it is just two wires. I usually cut open with razor blade, then I can always wrap them right back up
the way they route down along the timing cover in between the coolant sensors, etc it can get tight. Anyone in there doing a belt, water pump, etc etc could easily pull to taught or chafe or what have you over the years........
The pcm is the best tool we mechanics have
it tells us where to look
Problems with the 5.0 and a crank sensor usually result in a no start, or a cutting out issue like you are having....... alot of times it happens when there is moisture (puddles, rain, slush), the crank sensor is exposed to road salts, grime, oil, coolant, other fluids that leak on higher mile 5 oh
The crank damper has also been known to break out the center rubber donut, they can fail in time and allow a wobble or slippage
So a good inspection of the crank sensor, the wiring, connectors, the crank sensor mount, damper (Balancer) all of it!
Hopefully something jumps out at as the issue
Also I will only use a FORD crank sensor, I would rather put a known good junk yard part then an aftermarket cheapo POS!!!!