Wish I could give you a definitive answer on that Dan.
not all the Dakotas are the same, so I won't assume that the Rams are like the Dakotas.
example, my 3.9V6 Dakota had 2 O2 sensors, one pre-cat, and one post cat. it was a 98 truck.
my current 98 was a factory 5.2 truck, also only had 2 O2s.
98 R/Ts had the 5.9, and they had 4 O2 sensors. one left, one right, (each in the down tubes just behind the manifolds) one pre cat (at the Y going into the cat) and one post cat
99 R/Ts had 2 O2 sensors like the rest of the trucks.
around 00 or 01, all the trucks ended up with 4 sensors.
the left/right O2s are the ones that control the engine tune. or the single O2 that's before the cat.
all the O2s that are behind the cat have to remain plugged into the wire harness, but do not have to be in the exhaust. Guys who remove their cat when they put in a performance exhaust will often leave the post Cat O2 zip tied to the frame rail. computer sees engine exhaust in the first O2 sensor, uses it to adjust the tune, then sees clean air at the rear O2 and assumes your cat is working VERY well
leaving it in the exhaust, without a cat between it and the front sensors, will tell the computer that your cat has failed, and will trip a CEL.
If you have access to a wideband stand alone O2 sensor, it may help you troubleshoot, and figure out if you have a bad O2 sensor, or a good exhaust reading from something else going wrong.