What was the sprocket tooth count on the original clutch sprocket?
What is the sprocket tooth count on the torque converter sprocket? It looks like you have a 30 series and usually, they are 10t, but others can be chosen.
Your go kart looks like a Dingo. They usually have 18" tires, which often measure 17" top to bottom with a measuring tape.
In those pictures it looks like you have a 60t sprocket on the rear axle and you have upgraded the exhaust, to get those numbers you've probably also had to do something to the intake, but who knows. If that's the case, I'm guessing the governor has been removed.
With upgraded (or modified intake) and exhaust you might be getting a little over 5000rpm.
Based on that, if you have a 12t sprocket (like you said you thought it was) and are driving around 45mph, you likely have about a 60t rear sprocket.
60 divided by 10 equals 6:1 ratio. With 17" usable size tires you chould get 54mph when over 5krpm, but that is assuming your engine has the power to get it there and your kart is not small(read: a little heavy for the engine). I'm going to guess you have a Predator 212cc, as I don't see a starter on your engine. While you have upgraded parts of the engine, with the size/weight of your kart and only having a 212cc, it likely can't quite hit the top speed and with torque converters, you lose a little on top speed (but gain a ton of low-end acceleration), thus the 45mph you are currently getting.
I would guess your centrifugal clutch (original clutch) also had a 12t sprocket.
Everything is the same, thus the 48mph, because centrifugal clutches are a little more efficient on the top-end.
All of this would have been much easier if you could've given us all the measurements we had asked for, but I teach English online and a number of my students didn't show up, so I had WAY too much time on my hands.
All these guesses are perfect world scenarios (assuming your kart has no issues and drives great). Most likely I'm wrong on some details, but.... I don't care. I had my fun lol. And for that, I thank you

---------- Post added at 10:13 PM ---------- Previous post was at 10:02 PM ----------
Looks like while I was typing my overly lengthy response you confirmed the T/C sprocket 12t.
To gain the 3mph back (which is very small - as in the difference of a very slight slope), if you haven't already, upgrade the valve springs and do something proper with the intake...if you haven't already. Also, see if the carb needed to be re-jetted to a larger size........again...if it hasn't been already).
TL : DR
Same sprocket setup between a torque converter and centrifugal clutch will be close, but the T/C will have more acceleration and the centrifugal clutch will have slightly higher top speed
(aka you are correct). But there are a number of other factors that can change things.
Update
See itsid's post