In addition to setting the barrel back, the Mod 53 barrel shroud overhangs at the bottom of the front face of frame; the barrel seating surface on 17s and 18s.
Model 19s and 53s have a lower contour due to the shroud.
Since the 48 barrel doesn't have a shroud, I expect it has the same issue. By removing material (most of it) from the bottom of the 53 barrel shroud, I obtained a pretty good match to the frame on my Mod 18.
I reamed a 17 22 LR cyl to 22 Magnum. It's a fine shooter with either cartridge.
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Jim
S&WCA #819
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