2011 5.0 with no issues all of the sudden I get the yellow wrench in the display and truck doesn't want to shift past third gear. I pull over and turn off and on and the truck will now shift past third but it seems slow to shift. speed sensor or shift sensor going bad??

 

Just for kicks and giggles, have you checked the transmission fluid level? It's not fun ( I have burn marks ) but I had an issue on cold mornings, where it would slam into 2nd, late. Due to our very steep driveway, I think the very cold fluid level was too low. When I checked it cold, it was just below the cold hash marks on the "dip stick" (joke of a dip stick).
After adding some LV fluid, I haven't had an issue ( knock on my head ) .

Since you had a code, you might try getting it read. Many local parts stores can read it for you for free.