Would like to know if the following Crankset is compatible?
FD-C050 is profiled for a 42. This degree of mismatch is usually not enough to keep it from working at all, but it's not necessarily negligible either. The tighter curve may force the FD to need to be mounted higher than ideal, which can result in inferior contact with the chain and/or gaps that allow derailment. An FD is a cheap enough part that I recommend just getting one that you know will play nice with your 48 and be done with it.
As pointed out in the comments, it's possible to run into frame clearance limitations with the bigger rings.
Total capacity is 43 on RD-CT95 so that's fine.
If the chain is sized right for your current crank, it will be too short for the new one.