Getting a little off topic but a great article on the L83 is here;
https://www.motortrend.com/features/5-3l-l83-dyno-test/
480hp (-20% loss to the rear wheels) is 384hp. (nominally)
You can see why 475-485 at the Rear Wheels is a serious endeavor.
Your requirement is 100hp over that. Be ready to spend some money and turn some rpm to make that goal.
I believe you may be happy with less than that, after factoring in the budget requirements.
If smoking tires is your goal, pay attention to Joyriding's comment;
"Something isn't set-up right if you cannot smoke the tires in a 2wd truck."