Welcome!
I put a 700R4 between my big block and a NP205 back in the nineties. It's in my '70 K10.
The spline is the same between the 700R4 and TH350, just the length is different. The ORD website has a tech section which shows that.
You can get a shorter tail shaft and have it installed in the transmission, but this needs to be done with a full rebuild of the transmission because the output shaft is the first part to get installed. I used a spacer on between the trans and t-case so that I could use a 4L60E tailshaft which has better oiling that the 700R4 shaft. We did this to try and make it last better behind a big block. The cross member has to move for this swap anyway, so the extra 1 and 3/4" of the spacer wasn't a concern. I had to have driveshafts built anyway, so that was a given already. You will need to re-do both of your driveshafts.
The transmission cooler ports also move backwards slightly. I don't know if the hard lines for a TH350 will fit nicely if you bent them to fit.
The TV cable will probably require a different mount at the carburetor, but I highly recommend the kit from Bowtie Overdrives. It makes the transmission behave better, but I did reinforce the throttle cable mount of mine because my pedal stop in the cab wasn't quite perfect. I bent it and had to go back and fix it.
The factory shift arm needs to be redrilled to change the throw to get all of the gear positions. This isn't quite easy as the lever where the linkage pivot goes is hardened. I used a torch to heat mine up to drill. I believe that I had to move the hole up just above the original hole.
You will also have to get a way to lock the converter if you don't find a builder who knows how to make it lock automatically by modifying the valve body. A toggle switch will work, but then you have to remember to lock and unlock it.
And the last thing that I can think of is that the transfer case shifter will move rearward too. Unless you build a new one or modify yours to hit the original hole in the tunnel.