Okay, I will stick in my 2-cents worth.
My truck was doing the same, except not quite so bad as to hang up in "START"
What happens is the poorly designed pot-metal ignition-switch actuating rod is hidden deep within the confines of the column, where it cannot be accessed, cannot be cleaned, and cannot be lubed.
After a few years, what lube Ford may have applied has turned to a thick congealed substance that thickens when cold.
Many is the key or cylinder that has been damaged when trying to force this glued up mess to work.
Over the years, seeing all manner of vehicles come and go through our shop and elsewhere, I have seen more than a few to hang the starter like your's is doing; I have seen just as many snap the rod in two.
I bet when it is a hot day there is no problem at all.
The pin that locks the steering-wheel also resides in the upper end of that pot-metal rod; a very safe device just waiting on the right time to lock your wheel while going down the road.
You can dig deep into the column and clean, lube, or replace the actuating-rod; or, you can do as I did and eliminate that mess, switch-key and all, and relocate/rewire the functions it controls to nice no-non-sense toggle-switches and a push-button that triggers the solenoid/relay.
I like my system far better than the way it originally was.