The M48's action is shorter in length than the std. m98 model (but not as short as some m98 short actions for sporters hence the m48 is called intermediate) and cannot take a full length cartridge like a .30-06. The distance between the action screws is different so the trigger guard, magazine, and stocks won't interchange with m98's. In addition, the rifle bolts for the m48 only fit that model or the 24/47.
It is possible to convert it to .308 length cartridges though. If I recall correctly, a m48 barrel (and the older 24/47 design with a raised safety ring on the face of the breech end) will need an extractor cut so changing to a std. flat breech type mauser barrel will require an extractor cut to work.
You might find this link useful
http://www.hoosiergunworks.com/catalog/mauser_reference.html
"4)
Intermediate Large Ring M-98 ,(Large ring, Short action)
1.410 diameter. receiver ring, 8.50 in length, with screw spacing of 7.620
Intermediate Large ring have a threaded shank diameter of 1.10 in. With 12 threads per inch.
Mexicans by FN and Belgium, the M24, M47, M48 by FN and Yugoslavia. A large number of M48 Yugoslavian large-ring M98 Mauser have recently been dropped on the market. This M-98 short is considered an intermediate action, and WILL NOT fit a Standard 98 Mauser stocks and standard bolts will not interchange.. Receiver stripped weight 15.0 oz."
An old THR thread about it
https://www.thehighroad.org/index.php?threads/m48-mauser-sporterizing-doing-it-right.644990/
For the most part, stick with a Mauser 98 action unless you particularly want the yugo version. The cheapest ones are actually Yugo Mauser 98's that had their German history scrubbed which are fine for conversion.
The m48's action is not as smooth as a m98's for some reason--I have to work mine like I hate it for reliable operation. Not so on German m98's or Czech models.