You don't have to download 50GB every time EA drops a patch. The tool uses delta patching (downloading only the changed files). This saves massive amounts of bandwidth.
The Sims 4 Updater is a standalone Windows application created by Anadius. Its primary function is twofold:
It works by utilizing a separate "DLC Unlocker" that tricks the EA App (or your local game client) into thinking you own all the content.
If you use it on a legitimate purchase: Possibly. If the EA App detects modified game files (even if you own the game), they may flag your account. Most users report using it for years without a ban, but the risk exists.
Best practice: Use the updater entirely offline. Block EADesktop.exe in your firewall.
One of the most underrated features is the ability to downgrade. A new Sims update often breaks popular mods (like MC Command Center or UI Cheats). The Anadius Updater allows you to revert to a previous game version while you wait for mod authors to update.