Many comments about the "middle straight length" of this long vertical squared pressure vessel." I thank the earlier writers for their contributions. (And their disagreements and various defenses of various assumptions.)
Yes, fold the side plates with a simple 90 degree bend, make the fabrication welds in a jig or fixture as butt welds in the least stress point on the wall. Not necessarily the middle of the vessel wall. Do NOT attempt to make the four corners as welds!
But! The pressure vessel has a finite length, and both ends will face greater vibration, heatup/cooldown thermal stress, and flow change stress from fluid vibrations and turbulence at both the inlet and outlet far greater than the (comparatively low) mid-vessel longitudinal stress.
Does the rectangle ends "cap" the vessel, or do they terminate in a flat plate or a dome or elliptical head? Are they "reinforced" with an external or internal bolted flange? How thick a flange, how many bolts in the bolt hole pattern and what are the dimensions of the flange(s)?
If welded, is the rectangular pressure vessel welded to another (larger) pressure vessel or pressurized tank or air/heated gas chamber like an exhaust duct that is itself subject to vibration and thermal stress at the joint(s)? What is its movement and changes in its welded joints? Large rectangular and round and round-to-rectangular Gas Turbine exhausts are notorious for cracking at low internal pressures but high temperatures and great vibration stresses! If welded, the end welds WILL restrain movement of the ends of the rectangular pressure vessel, and that restraint (on both ends) MUST BE accommodated by higher movements and higher stresses in the middle length of the pressure vessel.
My recommendation?
Yes, FEA is needed.
Yes, external ribs appear near-essential, each rib being equal in resistance to pressure vessel wall movement (expansion and "rounding" from the heated stress of the internal pressure) to the closest end point reinforcement (which may be different on each end.)
Internal ribs would be more expensive to install, QA, and inspect regularly against cracking. MUCH more expensive to repair too. (Confined space rules and limits, scaffolding, height/width/access limits.)