I use 5w30 in my 2001 F-150 with the 5.4L Triton Modular (the 4.6L's big brother). Though it was around 1999 or 2000 when the recommendation changed from 5w30 to 5w-20, it's the same engine as those spec'd for the 5w30.
All 4.6L and 5.4L engines from 1997 to 2003 should be using 5w30.
But... The generation change in 2004 wasn't just in the looks of the the vehicles, but the engines as well. The 97-03 modular V8 engines are 2 valves per cylinder; the 04-10 modular V8 engines changed, most of which being 3 valves per cylinder (and some 4v, such as the Lincoln Intech).
I don't know whether anything changed as far as tolerances/clearances goes between generations, and since your (OP) car in question is a 2004, I can't specifically answer yes or no based on my own knowledge...
But, what I can say is:
Even if the tolerances/clearances did change somewhat... Using 5w30 in a car spec'd for 5w-20 will not bare any harm.
Here's the way I see it, personally:
One grade up from spec is safe 99% of the time.
Two grades up from spec is safe maybe 50 to 75% of the time.
Three grades up from spec is... stupid.
One grade down from spec is safe maybe 75 to 99% of the time.
Two grades down is safe maybe 50% of the time.
Three grades down is... stupid.
So, judging by this, (which is JMO), since 5w30 was spec'd for 97, 98, and 99 [?] Triton/Modular Ford engines: IF there was no change in tolerance/clearance (from 97-03 to 04-10), then all modulars should be running 5w30 anyway; IF there was a change, then you're only going up one grade, and that isn't likely at all to cause harm.
Just my two cents worth.
~ Triton