I not sure why you would ever need one in a leaf spring vehicle. What is the purpose of having a panhard bar. I always thought it was to keep your front end under the truck straight. Isn't that what the leaf springs do?
That's it, in a three link/radius arm setup, the panhard/tracbar controls side-to-side movement under the vehicle ("panning"), especially when steering force is pushing/pulling the axle parallel to the axle tube (creating panning force).
Leaf spring suspensions deal with that force with a combination of the width of the leaves and the leaf spring spacing. The issue is that as the distance between the frame and the axle increases, there is more bending moment (leverage), allowing for more deflection in the bushings and springs, and as a result more panning movement. The problem with a panhard is that it suffers from the same geometry issues as leaf springs in the end. As that frame to axle distance increases (basically the more lift you have), the steeper the angle gets on the panhard, and the less effective it is (also it causes the axle to swing to the passenger side more dramatically under bump and the driver side during droop, this can also lead to bumpsteer, or in our case with leaves, high stress and binding).
Granted, you can make longer bracketry for the panhard to maintain it parallel in relation to the axle, but I see that creating a lot more clearance issues that we already have issues with on our frames due to being designed for a push-pull/leaf-sprung layout. Also, you have to consider that the drag link needs to be maintained similar in geometry to the panhard link, or you will start getting bumpsteer, and if you're lifted sky high and are getting panning from having super arched lift springs, you'll probably have to think about lowering your pitman arm/steering box, and/or raising your steering arm to maintain that similar geometry with a panhard.
It really just makes a lot more sense if you want to have a super tall bro truck to either build a proper steering system that can control your tires without straining the suspension (I.E. some form of hydraulic that moves force out of the system and places it on the axle), or build a proper suspension (I.E. something linked) that can appropriately handle the stresses that your improper steering is exerting.