That's correct.
I think you'll also reduce any offset by a small amount.
It could alter the way the bounce and grind work but it should be easy enough to bend it back should things go haywire...
I have a number of 52 wedges they range from -1 to +12
However assuming you mean bending a club you would hardly notice the difference in play between a 48 and a 50 and that assumes you mean the same make a type of club.