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2nd Gen Ram Tech1994-2001 Rams: This section is for TECHNICAL discussions only, that involve the 1994 through 2001 Rams. For any non-tech discussions, please direct your attention to the "General discussion/NON-tech" sub sections.
When in park there is no cooler flow or lube flow. The PR valve just dumps all of the fluid that is being pumped right back into the pan so the dipstick will read high. When in neutral or any other gear cooler flow resumes as well as lube flow, now more fluid is being directed elsewhere, lowering the amount of fluid in the pan.