Wow!! I had, still do have, the same problem. I can just get a feeler gauge in there, but its not good at all. I so far dont see a problem, I dont like to have to think about it though. Its not "pushing" on the rack, but touching. I dont like it.
And you can move the rack down, but that may seriously mess with bumpsteer. If you move the rack down I would seriously consider changing the outer tie rod end to a joint to make up the diff in elevation. But thats alot of work. I even considered removing my pan and welding in a U tube to have some clearance. If it becomes an issue I will look at it more.
My first choice would be to pull the pan and modify it. For my setup. I dont want to raise the engine, its good, and really, I dont want to put the rack lower, its already at the extremes for bump steer.
Sounds like a pain in the *** but modifying the pan is the best route.
Now, Im gonna leave mine for now, dont know how much yours touches. My rack is solid mounted, steel bushings. And the rack is pretty stout, the pan will give. If it gives and makes its own clearance then Im fine with that. So far nothing wants to give. So that tells me it is close, but not THAT close. I know, hacker way of doing it. Im just not crazy about pulling my pan right now. JR
Oh, and I am using ES engine mounts too.