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I have 2 Dakotas (02 and 03) both are quad cabs and both are 4.7L. On both trucks when the fuel level reaches about 1/2 tank the gauge will drop to E, the low fuel light will come on and the check engine light will come on all at the same time. This condition will continue until you turn key off. When key is turned back on everything is fine except the check engine light (Code is P0463). This happens intermittently until fuel level drops to about 3/8. Then everything is fine until you fill it up again then it starts all over again.
 

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It sounds like there is a bad spot in the fuel level sender resistor element. Sometimes the contact wiper wears and lifts off from the resistance element. Gently bending it back against the element may fix the dead spot. The level sensor kit can be replaced separately if needed.
 
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