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Does the 5.3 have VVT?

Some do. Whether a 5.3 has variable valve timing depends on the exact engine (RPO code):

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All Gen III 5.3s (LM7, L59, LM4, L33) lack VVT. Check the RPO sticker to know which one you have, and see are all 5.3 blocks the same? for the full table.

Specs are GM ratings as published; power varied by year and vehicle. Confirm any engine by the RPO code on the glovebox/console sticker.