My interpretation is 50W max measured at the output of the transmitter (e.g. not at the duplexer).
That said, and as I've stated in another thread, start with forgetting about watts (for the moment), and recognize that 50W is roughly +47 dB.
Start subtracting all of the antenna system losses from that point.
Simple (conservative) example (insert or remove your own variables as desired)
Transmitter to duplexer jumper (6ft of RG142 @ 8 dB per 100ft) 0.54 dB of loss
Duplexer 0.8 to 1.5 dB of insertion loss. Lets use worse case 1.5 dB of loss
Duplexer to feed-line jumper (6ft of LMR400 @ 2.7dB per 100ft) 0.16 dB of loss <Corrected!
1/2 inch hardline (50 ft @1.44 dB per 100ft) 0.72 dB of loss
Feed-line to antenna jumper(6ft of LMR400 @ 2.7 dB per 100ft) 0.16 dB of loss<Corrected!
Total antenna network loss (one way) 3.08 dB total antenna network loss loss <Corrected!
Power making it to the antenna = 43.9 dB or, 24.5 Watts (<Corrected!
Antenna Gain 6 dB (note not dBi) of "gain" ERP (Effective Radiated Power) of: 49.9 dB or 97.7W.<Corrected!
Also remember that the gains and losses go both directions!
Thanks To @Sshannonfor catching the error!
In most cases, jumpers between transmitter and receiver and duplexer are required but one need not necessarily use RG142 (Teflon) or 6ft of length. Jumpers between the duplexer and feed-line (hard line/Heliax/whatever you call it) are commonly used as to connect "hard line" directly to a duplexer. Same for the antenna to feed-line. You don't strictly have to use them/do it as I have described, but it is good practice.
That said, substitute whatever numbers/components you like. In the case of the cables, use the loss specified as close to 465 Mhz as possible.
Finally, the point of this was to show that one starts by using the dB (not watts). As good online calculator is: https://www.antennas.ca/calc_db_watts.htm
As seen in the above (conservative) example, one can vari the losses by a few tenths of a dB to several dB by the choices one makes. In this example, the duplexer insertion loss could have been assumed to be the ideal 0.8 dB. 7/8" hardline could have been used instead of half inch, and of course the jumpers could be different cable and lengths.
All of the above assumes clean, properly installed, connectors, as a bad cable connector can really ruin ones day.
Hopefully this gives a better idea of how to think about antenna systems, repeater or base.
Lastly, looking at cable specifications, all cable is not created equal. As popular as LMR400 seems to be with people, it's not all that great at UHF for runs over 50ft. Hard Line/Heliax can be expensive, but if one is looking to get as much power to and from the antenna...