What does the volt meter show when the ALT light is on - and when it's off? Have you looked at the belt with the engine running, or pushed against it with the engine off? If it's slipping on the alternator, there will be an obvious buildup of black powder on the face of the alternator around the pulley; particularly on the side the belt rolls off.
But it's also worth checking the battery terminals, alternator case, alternator bracket, alternator output stud, and the wiring that runs behind the battery for damage. Click these & read the captions:
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IDK where the 7.3L block ground is, but you should find & clean it:

You should confirm the voltmeter with a DMM:

But it's also worth checking the battery terminals, alternator case, alternator bracket, alternator output stud, and the wiring that runs behind the battery for damage. Click these & read the captions:





IDK where the 7.3L block ground is, but you should find & clean it:

You should confirm the voltmeter with a DMM:
