The XT (5160) was shipped with an optional HD, but a special kit was done also for the 5150 (the power supply, also, must be accomodated).
The IBM 1501492 recognizes only few models of HD ... I've never had it under my hands, perhaps.
If I remember well, it doesn't have a BIOS formatting program included, so you can't execute it through the standard DOS DEBUG command g=C800:5.
There are many formatting tools of the era (PREP from Zenith, LOFORMAT, LLFORMAT, etc ...) and you must try the one more suitable to you, or you can try the IBM diagnostic disk.
Some of them allow to specify "on the fly" the drive geometry (C/H/S).
The Seagate ST412 (which I own) is 306/4/17, 10 MB, with precompensation beginning at 128.
You can take other infos from www(dot)artofhacking(dot)com/th99
If you send me a *clear* picture of the board, expecially if there are user selectable jumpers, I can tell you more.
If you need, I have those old formatting tools (together with 4Gb of old DOS programs, not games !).
I keep alive a lot of old harware pieces ... so I must have those old tools.