Can I fit a 50cm road bike?

You can "fit" it but a 48 might be better. I'm 5'7" and ride a 50. I think I'd like a 48 better. Reach, saddle to bar is also important for riding position. That's largely determined by top tube length.
 
It should be fine. This will vary from bike to bike as they're not all made the same. You need to be able to ride the bike first. If your leg is only slightly bent at the 6 o'clock down-stroke, then you know it's a good fit.
 
That will be about the perfect size for your inseam.

30 X .65 = 19.5 inches X 2.54 = 49.53 cm

Proper seat position and the correct stem length = perfect fit
Chances are the bike will fit pretty good the way it is.
 
Yes.

48cm - 50cm is a perfect frame size for your dimension.

Go to your local bike shop and get a competent staff to make proper adjustments on seat height, pedal crank length, handlebar stem length, and steerer tube height to fit you properly on your road bike.
 
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