I never tried it as I don't have a 4040. The simms will touch the tray and not the daughterboard.. Try it if you can. I would bet it that it fits fine.
You may want to see if you can cut a hole in the tray to accommodate the ram since the ram access of the WE is excellent and will greatly increase performance.
If the 4040 has a jp4 like the 3040, you may be able to get around the int2 hack to use scsi.