You can drive as fast as you want in 4hi, but please keep in mind that you can't shift in/out of 4x4 above 55 mph. Also of note, if you have an early 97, I would not recommend driving over 70 mph as the front differential has a design problem with the differential vent and the fluid in their gets churned up enough that the front differential will start spitting out fluid. I don't know about you, but a differential under load with no fluid in it sounds really bad.
If you are worried that you might have a bad front differential, look at the passenger side of your front differential. Follow the vent line to the differential. If my memory serves me correct, the good axles have the vent point towards the front bumper where the bad axles had the vent sticking out the top.
How do I know? I had Ford put a new front axle on my truck because of this very thing. It wasn't a recall, but it was a TSB. Should have seen the dealership that I took the truck to because I had managed to get a copy of a TSB that they didn't have. needless to say, after that day, the dealership treated me with a lot of respect. I think they were living in fear of who I was since I seemed to have some connections that they didn't.