Hi birdofprey,
You should achieve quite good results by using the geotagged pictures from your Phantom 4 drone in combination with a few scale bars (try to place them throughout your survey area). As already mentioned by Alexey, the scale bars need to be long enough, probably 10s of meters. I generally lay out some markers (ground control points) and measure the distance between them using a tape measure.
The scale bars will allow you to get accurate distance measurements in your model. However, be aware of the general error of your model that is inherited from the relatively inaccurate camera locations (geotagged images). This means that your whole model is not only shifted but also tilted. For example if you would like to do some surface water flow simulations, a tilted model is not that great. But if you for example would like to simply measure the distance between 2 objects, the general tilt of the model might not be that critical.
Regards
SAV