Sounds like failing oil cooler to me and like others have said your scanner may be too generic. The code would be a p012F that sets when the ect/eot correlation is more than 35 degrees. This illuminates the wrench light when it happens but goes out when back in spec. The cavitation of the front cover could have caused this but also the many coolant leaks those motors have may have created some less than optimal coolant mixtures somewhere along the line. I've done many oil coolers on 6.4l and what you are describing sounds about right.