Yes the lift pump can fail.. (Your unit is updated from the E-Tech series. those had a few issues).. when the pan is down, get familiar with the space between the front timing cover and the fuel pump..( its barely an inch of space) put your eyes on the drive gear as best you can.. spray brake clean up there to wash the engine oil off the gear and block.. let it dry or use shop air to dry it.. when you do the pressure test, if you see fuel dripping from that spot, its highly likely the fuel pump seal has failed, and the pump will need to be replaced..
its tricky, but you can pull the fuel pump away from the block a bit to let it drip out side the engine to check for a leak, because above the fuel pump gear is another 1/4'' pipe plug that is in the fuel gallery.. it is below the one you posted a picture of.. If it leaks (and it can) it will go directly into the crank case. if you have the fuel pump pulled back, (all lines and filter still installed) and pressure test the fuel gallery, and fuel is NOT dripping from the fuel pump but is running down the front of the block from the fuel pump area, then that little bastard plug is leaking.. Are you following me so far?? I am not trying to build a mountain with a molehills worth of dirt, but I have been here many times, and with the cost of firing a parts cannon nowadays, I make sure I test as much as I can... even if the labor is a bit much.. jojo