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It will work, the collar does not need set screws. When you put the lower gear on it pinches the collar up against the shoulder on the shaft. There is a o-ring under that collar that seals the oil in. Polaris went to this style like back in the early 90s. The collar is the seal surface for the seal in the back of the chaincase. Check to see if that seal is the correct size to fit the collar. If not just put one in out of the later machine. The hole in the chain case is the same size. Seal is the only thing different. To get that shaft in you may have to remove the chaincase. Other option is to just run 3 drivers. Cut the one off the speedo side and it will go in without removing the chain case.
The bearing on the speedo end is the old style and works fine. Original style had a lock collar and set screw where the one you have just has set screws. Later shafts were slightly larger on that end and used a press on bearing. All 3 will clamp fine with the three hole clamping plates under the speedo drive.
That style fits tighter than the collar style and is just held in with the set screws. 1/16.