What is the optimal bank angle to accomplish a given turn in a glide?
The best bank angle is indeed 45°.

It can be shown relatively easily that that gives the tightest turn for constant angle of attack, where we assume that constant angle of attack results in constant angle of descent too. It would be pretty hard to show for constant speed, and it might not even be exactly true in that case.

However, this can't really be separated from the best speed. And the surprising answer is that the stall speed (which is ~19% ($\sqrt[4]{2}$) higher than in straight flight) gives smallest loss of altitude for turning given number of degrees.

The reason is that the drag (near the stall speed) is proportional to $\frac{1}{v}$, but the turn radius is proportional to $v^2$, so as you slow down, the radius decreases faster then the drag (and therefore vertical speed) increases.

References:


http://www.nar-associates.com/technical-flying/impossible/possible.html
Is it even remotely feasible to turnback a single engine aircraft with an engine failure?