The speed-limiter is computer controlled. Somehow it's tied into the speedo itself. I've changed the needles in my '97, and the speedo is not quite right on. It reads faster than what I'm actually going. Checked by GPS. It's not out as far as your's, though.
Don't know if the 4X4's are different than the 2whl.dr.'s, but both my trucks limiters kick in @ 98mph, according to the speedo, not the GPS. Because my '97's speedo reads fast, the limiter kicks in @ 89mph by the GPS, but @ 98 by the speedo. Haven't had time to mess with it lately, but I've been wanting to check to see that if I re-positioned the speedo to read slow, would it actually affect the limiter's cut-out, according to the GPS.
For my black truck I have a programmer for it & with that I've re-progammed the limiter to 135mph (like it'll even go that fast!) & changed the computer to adjust for 29.5" tall tires, & for the gear change from 3.42's to 3.73's.
Those programmers aren't cheap! Around $400.00, and they are limited in what they can do.
Don't know for sure if those gazillion dollar scanners could do the same for you. It's not like I'm messing with that $400.00 programmer all the time. I set it up once for the changes, & have never messed with it again. If the expensive scanners can do that, all you need to know for the re-progamming, is the height of the tires, & the gear ratio.
It could be that the PO had this done for the 35's, & just never had it changed for the smaller tires.
I'd be checking to see which gear ratio is in there first.
That can be done without taking anything apart.