On a 2003 Chevy Silverado with a 5.3L engine, the crankshaft position sensor (CKP) is located on the
passenger side of the engine block, near the
rear of the engine (towards the firewall). It's usually mounted in a relatively accessible location, but you might need to remove some components, such as the starter motor, to get a clear view and access. It's a fairly small sensor with a single wire harness connector.
Important Note: While this is the general location, it's always best to consult a repair manual specific to your year and model. A diagram will give you the most accurate placement and will also show you how to access it properly. Improper removal can cause damage.