I upgraded a 48G to 128k and had planned to add an additional 512K later (never bothered as I then got a 48GX and bought a 128K and 1 meg card from Koltz). Physically the chips I looked at would have to be piggy backed stacked to get me to the RAM I wanted (I wanted 1 meg and only found 512K ram at that time). I suspect you might be in a similar prediciment (only with 1 meg RAM, I don't believe I have ever seen a 4 Meg SRAM of the type needed for the 48 series). It isn't easy for the surface mount variety to extend their pins to piggyback. (of course I am getting older and can't see all that well anymore either).
However, I did consider a 2 meg (I didn't really consider the 4 meg card) card. I still have used less than half of the 1 Meg.
If you do succeed in adding the 4 meg, 256K (and maybe as much as 512K) of it will be on no real use to you. The memory is partitioned out in ports with port 0 and port 1 unavailable to your 4 meg of RAM (thats the first 256K of RAM that the 48G uses). And the 48G uses RAM in 128K increments (so 4 Meg would be 32 ports). That is a lot of ports to keep track of. Koltz uses bank switching and a switch to swap the last two ports for his 4 Meg cards.
I find my 1 Meg is fine for my use and I can understand someone even wanting 2 Meg. 4 Meg on the 48G's memory scheme is probably just for some exotic applications that you are very unlikely to need.
Of course if you can find a way to just land a 1 meg chip on the location of the 128K ram location and get the circuity to work with a few jumpers (you will also need a couple of other components as well) to get the 48G to use anything above 128/256K (may be able to merge the next 128K w/o the extra circuity, but I wouldn't bet on it.