I have made an initrd file and put initrd=initrd-2.4.0-0.43.4 into lilo.conf. When the pc boot this message appear.: VFS mount root ext2 filesystem. kmod failed to exec /sbin/nodprobe -s -k block-major-3, errno=2. I have update with lates modutils from rawhide and glics and gcc from redhat-updates-7. I used kernel-2.4.0-0.25 to install the lates kernel, and I run /sbin/mkinitrd initrd-2.4.0-0.43.4 and the edit lilo.conf. Before running lilo.
The kernel mistakenly doesn't require mkinitrd >= 2.7; it needs to. That way ide modules are included; this oversight will be fixed in the next rawhide kernel. In the meantime, installing that version of mkinitrd and running it should leave a working initrd.