I partially solved the problem to this issue (at least in my case).
Others may be experiencing the same thing…so here’s what I found:
A handful of hosting providers now have a WordPress QuickInstall feature.
Sometimes they bundle in a Cache plugin when you do a fresh QuickInstall.
HostGator, for example, now includes the WP Super Cache plugin.
If activated it may be causing an issue with the Download Manager plugin.
I have not tested this out with WP Super Cache but I was using something similar called W3 Total Cache.
I know a ton of WordPress sites use it as well…( 1,332,719 downloads from the WordPress Plugin Directory)
Disabling this plugin allowed me to download files greater than 50MB in size.
They were uploaded via ftp and then added to my files page by using the Download Manager category shortcode.
Testing must be done in order to figure out where/how they are interfering and how to correct it.
I’ll post an update if I find anything.