Will a transmission out of 1994 Chevy k1500 2wd fit 1992 4wd z71?

No, a transmission from a 1994 Chevy K1500 2WD will almost certainly not fit a 1992 Chevy K1500 4WD Z71. The differences in drivetrain components between 2WD and 4WD are significant. The 4WD transmission has a different case, different output shaft, and likely different internal components to accommodate the transfer case. Even if you could somehow mate it to the engine, you wouldn't be able to connect it to the transfer case.