USB 2.0 has a theoretical max speed slightly over 40 MB/s, with real-world top speeds closer to 30-35 MB/s. So the fact that you're getting 50 MB/s indicates the USB 3.0 port is working properly.
Unfortunately, reviewers and enthusiasts concentrate on a drive's sequential speeds. Because sequential speeds are the fastest, it also happens to be the least important. The
slowest transfer speeds will take the longest, and thus will be the cause of most of the time you're waiting for the drive. So it's the 4k (small file) random read/write speeds which have the greatest impact on your overall transfer speeds.
For HDDs the 4k speeds are still down around 1 MB/s. Depending on what's stored on your drive, the overall transfer speed can vary between 1 to 120 MB/s. If you have a lot of big files (e.g. movies) your speeds will be closer to 120 MB/s. If you have a lot of small files, your speeds will be closer to 1 MB/s.
https://cdn2.techadvisor.co.uk/cmsdata/reviews/3449074/wd_my_passport_4tb__2016__-_crystaldiskmark.png
With the mix of file sizes most people have, I would expect about a 30-80 MB/s average transfer speed. Windows time estimate varies depending on the speed of the files it's transferring at that particular moment. So if it's busy with a bunch of small files, a time estimate of 23 hours (3.6 MB/s) is not unexpected.