When I ordered mine, I specified a 1989 5.0 Mustang and I was given a 4-wire sensor. I don't know whether this was a Cali emissions thing (49-state models maybe took a 3-wire sensor??), or whether they gave me a different part (which was correct for the M42) by mistake. I'm in California, so I'm not sure whether you guys in other states get a 3-wire sensor if you order the 5.0 Mustang sensor.
There seems to be some confusion about this, so maybe just tell the parts person that you need a "generic Bosch 4-wire O2 sensor." They probably also carry other even cheaper 4-wire sensors that cross-reference to the "generic Bosch 4-wire sensor" that would also work. But Bosch is a quality brand.
And yes, for all M42s that use O2 sensors, a 4-wire sensor is used.