The F4 compilation chain ends up with a load module (.LD)
That's not able to run on its own as it's basically a bunch of FPP code. It needs the Fortran Runtime System to be able to run. (FRTS has a FPP emulator embedded.)
As a result, you can't make a save image file from F4 source(s).
Adventure had a hack at one point where you ran the FRTS to load it into memory, then it would upon startup call a PAL routine to disable interrupts, set up a proper core control block so the SAVE command would work, then exit. Upon return, it would reinitialize the FRTS and continue.
You could then use SAVE to create a .SV file. This was very fragile - moving bits around on disk would cause it to fail. (F4 opens all the files you're using before starting the user's program, so if any of those are moved due to things like a SQUISH command, the files wouldn't read properly.)
TL;DR - don't try to create a .SV file. Use "EXEC FOO.LD" to run the linked load module.
-Rick