I had to look up where you got the 1.046 value from. It seems it's common knowledge that "one pound of sugar dissolved in one gallon of water" yields a solution with a specific gravity of 1.046. However, that's not exactly correct. It is one gallon of a solution of one pound of sugar in water that has a SG of 1.046.
The distinction is that the mass of "one pound of sugar dissolved in one gallon of water" is the sum of the mass of one pound of sugar (0.453 kg) and the mass of one gallon of water (3.785 * 0.998) while the mass of "one gallon of a solution of one pound of sugar in water" is the sum of the mass of one pound of sugar (0.453 kg) plus the mass of however much water is required to reach a total volume of one gallon.
To put it another way, in the first case you're pouring one pound of sugar and one gallon of water into a container. In the second case, you're pouring one pound of sugar into a one-gallon container and then topping up with water.
Another problem is that since you're working with pure sugar and water, you should actually be referencing Brix values. Brix and Plato don't match up exactly, though I can't explain the difference between the two.
Wikipedia phrases it succinctly as, "One degree Brix is 1 gram of sucrose in 100 grams of solution." Assuming one milliliter of water has a mass of one gram, then a total mass of 100 grams would mean the sugar was added to only 99 ml of water. So, to use your formula above, 1 / (99 * 0.998 + 1) = 1.00% Brix.
Working backward with your formula from a 1.046 SG (11.4% Brix), we can calculate the amount of water you would need to add to one pound of sugar to get one gallon of solution.
0.453 / (V * 0.998 + 0.453) = 0.114
0.453 = 0.114 * (V * 0.998 + 0.453)
0.453 / 0.114 = V * 0.998 + 0.453
0.453 / 0.114 - 0.453 = V * 0.998
(0.453 / 0.114 - 0.453) / 0.998 = V
3.52773969 = V
So you'd need to add one pound of sugar to 3.53 liters (0.93 gal) of water to get one gallon of solution at 1.046 SG.
I'm sorry I can't link to a definitive reference. This is what I've cobbled together from various sources.