Sounds to me like either the slave cylinder or the master cylinder for the clutch is shot. Maybe both. Gotta drop the tranny to work on the slave, so might as well take a look at the clutch while it's out and see if it's really shot or not. The slave comes with a new bearing and spring.

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Sgtsandman's Work in Progress
2011 Ranger XLT, 4X4, 4 door Super Cab. 4.0L, 5 Speed M50D-R1HD, 3.73:1, 8.8" open differential, Jason Pace cap
2019 Ford Ranger STX FX4, Super Crew, 2.3L Ecoboost, 10 speed automatic, 3.73:1 with rear locker, Leer 100XR cap