Well, it'll be both pretty soon working on a Bronco!

But no, you're not crazy yet. It's not only a common issue, but yours being a '74 is particularly vulnerable to the dreaded Bronco-pattern (smaller I think?) torque converter bolt pattern.
Not sure if it was a Bronco-only thing, or if any other Fords had this uncommon size, but members here run afoul of it all the time when swapping trans/engine combos.
Not sure the best solution, but you will need to check a couple of factors.
One is the bolt pattern. You could re-drill (VERY CAREFULLY!) the flexplate to match the TC, but you need to verify that the offset is correct too.
The other is to find a more appropriate TC to fit the new flexplate.
I don't know of a modern 50 oz flexplate that has the correct offset OR bolt pattern for the old converter, since it was likely never used on a modern engine. Would have to be an aftermarket custom most likely.
Gonna have to do some measuring for both offset and pattern. And yes, you're gonna have to take the engine back out. Or at least the trans out, but I prefer the engine myself as long as I have a hoist and a buddy handy.
Good luck. I'm sure others will have advice. Hopefully some that can save you the trouble and dry off the parade that I just rained on.
Paul