One thing I would highly recommend when working on a 4EAT transmission from that era. Avoid so-called "Universal Transmission Fluids". Any fluid that claims to meet all specifications for a wide variety of autoboxes typically meets none. Subaru was rather specific, generally adhering to an older GM standard as they were sharing some engineering resources during that period in the company's history.
My 2002 Outback called out Dexron-III, and I had a near-disaster when I tried Maxlife. It slipped during acceleration, suffered from 'shift shock' when changing gears, and the fluid filled with black particles. I took several drain/fill cycles with a dedicated single spec Dex-III to get it back to where it was before I messed with it.
If you dive into the specs, Maxlife is a light fluid matching many modern fluids like Toyota WS with a Brookfield viscosity value of around 8500. Older Dex and similar era fluids were thicker, with a value of closer to 20,000. Add in the friction modifier differences, and you can easily make a mess out of a good transmission. Valvoline does market a Dex/Mer-III fluid, and I used that successfully. Try to find it or an equivalent.
Many have gotten good results with thin fluids, but horror stories abound. It's going to depend a lot on the condition of the clutch pack cellulose material, and whatever might be burned on to it. Mess it up, and you'll be headed for a full scale rebuild. So just my $0.02.....