I just put calipers on a new set of rear bearings for my CB500 sitting right here on my desk (waiting for me to install them) and they are 52mm OD, exactly.
I am like 99% positive that the CB550 uses the same but you might want to double check?
UPDATE: I went and checked the Honda parts book and the parts numbers are the same for my '73 CB500 and a '78 CB550 so it looks like they are, indeed, the same.