Any concerns going .040 over on a 5.7?

Well, just because someone makes pistons that size, "doesn't mean you should". I have factory/dealer tech literature (somewhere) from when the 5.7 and 6.1 engines were the only players at that point, stating no more than .020 on one and .030 on the other. It might have been .020 on the 6.1 and .030 on the 5.7. IMO, these new gen blocks are not designed to be rebuilt but about once. 440 blocks in the day could go up to about .060 over, but not these gen 3s