Spatialking, I strongly doubt that the wire in your tonearm is as thin as 50 AWG. 50 AWG wire is approximately 0.0010 inches or 0.0254 millimeters in diameter. Typical tonearm wire is 33AWG or thereabouts. There used to be a school of thought among audiophiliacs that favored solid core wire and with a gauge as thin as practicable. Michael Percy Audio used to sell and maybe still sells a special brand of Japanese 6N copper wire that is 40u (microns) in diameter, or .0015748 inches, which means it is a bit wider in diameter than your estimate of what you see in your AT tonearm. I have seen an IC made with that 40u stuff; it was almost invisible and incredibly fragile, enough that the company that made it, Mapleshade Audio, gave up on it. Anyway, as others have said, I would leave the wire in your AT tonearm alone, if it were me making the decision.
Also, you state you are worried about resistance, capacitance, and inductance. By and large the gauge of the wire will only affect resistance per unit foot. The geometry of the winding, if any, is what mostly determines reactance (capacitance and inductance). If the individual leads are twisted together, for example, that would affect reactance as compared to running the 4 leads (left, right, hot, ground) side by side. Solid core vs stranded wire would also make a difference in reactance.

