The Red Devils are in the process of looking for a long-term appointment to take over from Ralf Rangnick in the summer, and Ferdinand believes they lack an obvious choice.
Ajax's Erik ten Hag was reportedly interviewed last week for the upcoming vacancy.
The 52-year-old is understood to be the frontrunner, with Paris Saint-Germain manager Mauricio Pochettino another option.
Ferdinand spent eleven of the twelve years he was at Old Trafford playing under legendary boss Sir Alex Ferguson, and has seen first hand how the club has failed to correctly replace him.
United appear to have lined up their potential candidates and look set to swoop for Ten Hag.
But former Red Devil Ferdinand has told talkSPORT that he does not see a clear candidate for the role.
Speaking on talkSPORT's White and Jordan show on Monday, the legendary defender said: "None of us have got an answer where we're all going 'Oh, that's the definite person'.
"I think there would be shouts for people like [Mauricio] Pochettino, I'm sure, obviously [Erik] ten Hag. They're the two frontrunners people are talking about.
"Listen, it's a toss of a coin, I don't know. There's no one where you're going 'oh, ok', for instance there's not a Pep [Guardiola] out there right now who's available.
"When Manchester City were out there looking for a manager they thought right that's the go-to guy who you're going to get 100 per cent certainty from and think 'he's perfect'."
Ferdinand acknowledged the tough task and pressure of appointing a manager given United's current situation following another underwhelming season.
However he did state how important it still was to not provide the Old Trafford faithful with yet another false dawn.
He added: "I think everybody who's out there, there'll be people saying 'oh well it's not quite worked at that club, that's not the level of competition that they're going to be used to when coming to the Premier League'.
"So I think it's a very difficult one but it's very significant appointment to be made by the Man United hierarchy and they've got to get this one right."