There are 2 different types of bush hogs and 2 different types of hogging. Heavy Duty versus Light Duty. HD and LD bush hogs look pretty much the same, but HD is naturally heavier in every way. HD versus LD hogging can be divided down by what you intend to do with the hog. If you are taking down saplings in the 2" to 3" caliper range, lots of woody brush, etc, then you are looking to do HD type hogging. If you are taking down prairie grasses, weeds, and maybe the occasional small woody shrub, then you are in the LD type of hogging.
I would suggest your tractor is well suited for a 48" HD rotary cutter for HD type work. It is also well suited for a 60" LD cutter for light duty type work.
One thing I don't like doing is using 1/2 the implement. By that I mean I've seen many people recommend larger implements (typically rotary cutters, tillers and finish mowers) and then they recommend that if the thing bogs down you only need to take a 1/2 width cut or only go 1/2 as deep. To me that is a waste of time because you end up spending more time doing the job with the larger implement making 1/2 cuts than you would with a properly sized implement making full cuts. If I was you, I would look at the jobs that needed to be done, decide if the jobs are suited to HD type work or LD type work. Then I would size the implement accordingly.