2000 F150 xl automatic -- can not go past 40 mph in overdrive

2000 F150 xl automatic -- can not go past 40 mph in overdrive
Overdrive button in shifter ..by default it is on but when I drive it when overdrive is on ..it wont go move than 40 mph ...if I try more than 40 mph ..engine just revs and make noise

But if I turn off overdrive by pushing that button ..it will go more than 40 mph ...but I feel it's making more noise than normally it should (may be its just in my head)

What is the reason for this ? and what is the fix?

I have been told ...changing transmission fluid with filter and adding lucas transmission fix would fix that..is that true?
Or its something inside the transmission like servo clip or solenoid retaining clip?