Hmm. tricky.
RTX3050 mobile 35W is the lowest of them, configurable to 85W... Still it has double the cuda cores of the 1650, but the higher TBP lets the clock rates on the 1650 have a higher base. Still, Nearly double the memory speed (possibly double the memory capacity as well). If the 1650 is the 2GB version, definitely the 3050.
Not sure I would necessarily want to lose the 120hz display, depends on what you play I suppose. Fast shooters where you would turn the graphics down anyway, or more leisure games.
I don't think there are any good direct comparisons out there, all I can track down are 3050Ti reviews.
Hardware Unboxed has a decent review, but they don't compare it to many other laptop GPUs. Given the clock speed charts I found, the 35W one is going to run quite slow compared to the higher TBP ones, so may not be much of an improvement aside from the architectural and RTX advantages.