In a 1992 Ford F-150, if the ignition module isn't integrated into the distributor (as is common in vehicles with distributors), it's usually mounted
on or near the distributor itself, or on the firewall. It might be attached to the fender well or even under the dash, but those locations are less common. It's a small, rectangular black box with wiring connectors.
Because its location can vary slightly depending on the engine type (e.g., 4.9L, 5.0L, 5.8L), checking a wiring diagram specific to your truck's engine is the best way to pinpoint it. You can find these diagrams online or in a repair manual for your year and model.