I had the same issue with squat on my Dodge. Remedy it with Timbrens, they are a great company.
https://timbren.com/ Was happy with that cheaper solution for years. Looking at your picture if you take the squat out of the truck it looks like it's going to make your 5'er more nose high. Like Tom said, if it does you will need to lower your hitch if you can maintain bed rail clearance.