The '42-48 rear axle assembly is approximately 2" wider than the '40 assembly. I have a '46-48 Columbia under my '36 coupe, I up graded the car from a '36 Columbia to the '46-48 unit.
There are people that will tell you that you need to shorten the axle housings and axles, this in non-sense.. The difference in the width is less than 1" on each side, not a problem.
This is all you have to do: disassemble the '40 differential, discard the axle housings, axles and rear spring. Install the '46-48 Columbia onto the '40 banjo, torque tube and radius bars, install the unit under the car, install the '46-48 rear spring, hook up brake lines and shocks. Use steel lines extending from the engine compartment to the rear end. Install '46-48 vacuum electric shift controls, making sure that you have the clutch safety switch assembly..
The whole installation is similar to the stock '40 setup, except you now have an electrically controlled OD, in lieu of a mechanically shifted unit. Additionally, the '46-48 Columbia's are much better than the earlier ones..