The damper internals very a lot along with some of the outer dimensions although the fender and caliper brackets will transfer, also the 550 has the bracketry for a second caliper.
Due to the differences it is better to swop complete legs, as pairs, and these will slide straight in.
Having said all that, here in UK i did many years ago just change the one slider on a 500 for a 550 one so i could fit twin discs and never had a problem that i knew about!!!