An isolation transformer is not the only possible solution, but it is the most straightforward solution.
In addition to the isolation approaches, there are a couple of 'buck-boost' or similar non-isolated transformer connections that you might be able to use.
For example, if you can get a 277V:208V single phase transformer, then you could connect it in a boost configuration (277V applied to the 277V coil, 480V taken across _both_ 277Vand 203V coils in series) and get 480V single phase at 50KVA using only a 21KVA transformer. I doubt that these transformers exist, but maybe they are common for street lighting applications, and I don't know about them because I don't do street lighting

In addition to the uncommon transformer, this also has the problem of putting all the load on a single phase. Note that this gives an output voltage of 485V.
Another possible approach is to use a 30KVA 277V:277V single phase transformer; drive the primary with one phase and put the secondary in series with another phase. If you get the phasing right, then you get a 480V output. (Get the phasing wrong, and you get 277V) This puts the load equally on 2 phases, just like using a 480V:480V transformer, just with a smaller transformer and lower losses.
The third approach that could work is to use a pair of 480V:120V transformers. Supply one transformer phase A to B, the other transformer phase A to C, and 'stack' the 120V outputs in series with phase A. The far end of the stack will be at 485V, with some amount of loading on all 3 phases. You would need 2 10KVA transformers. A standard 30KVA 480V delta : 208V/120V wye transformer could be used in this fashion to provide your 50KVA two wire 480V.
-Jon