Maybe, maybe not. I've put a few of these Williams sights (5D as well as FP) on that particular vintage 94. There was plenty of adjustment whereby I didn't have to change the front sight at all. I suggest trying this: Remove the plug screws from your receiver and install your 5D or FP. Set the sight at its second long graduation from the top of the little scale on the side, and tighten it. This will be one big graduation from the lowest setting. Then head for the range with some ammo and set up a big target at the 25 yd marker, with a small sight-n-see bull in the middle. At 25 yd, from a bench, you shouldn't miss the paper, but you may or may not be high or low. The first shot will tell you how much higher or lower you'll have to go. You may have enough travel whereby you can use the front sight that you have. If you have to go adjusting it much higher than a bit over the midpoint, or if your bullet is already printing too high, then you'll need a higher or lower front sight. The guy at Williams is going by his charts, but every rifle is different. I don't think I've ever had to change a front sight on a 30-30 Winchester carbine after mounting the front sight, but until you try, with your rifle, you won't know for sure.
I have and use Marlins as well as Winnies. I've usually had to change the front sight on a Marlin, but rarely if ever on a Winnie. On either one, DON'T be banging the front sight out of the ramp with a hammer and drift punch. Either have a gunsmith change your front sight, or if you have a sight pusher (Williams makes these and about every gunsmith has one) push it out the old sight with one of these and push the new one back in. With a sight pusher, changing a front sight in a dovetail ramp is a five minute job. Good luck.