And because it looks freshly painted, chasing the threads is a good practice anyway. However, is it possible that this location is the unused, plugged, or unfinished hole where some engines got a block drain?
Is it possible this is a different engine block them or came out of your bronco originally?
If it ends up being anything different than what you think it is, there is sometimes another threaded hole further back along the pan rail just in front of where the starter motor is.
That’s an even better location for a grounding bolt, but would not have been used by Ford because it would require another 10 or 12 inches of battery cable.
Making it far too expensive for production purposes.