The starter solenoid on a 1988 Ford F-150 is typically located on the
starter motor itself. The starter motor is usually found on the
passenger side (right side) of the engine block, near the bell housing (where the engine and transmission connect). The solenoid will be a relatively large cylindrical component attached directly to the starter. It often has a single large cable attached to its main terminal (the battery cable) and one or more smaller cables.
However, the exact location might vary slightly depending on the specific engine and modifications made to the truck. It's best to consult a repair manual specific to your 1988 F-150's engine (e.g., a Haynes or Chilton manual) or search online for images of your specific engine bay to confirm the location. A visual inspection is the surest way to find it.