The maximum EV charging load you are permitted to draw through a 50A circuit would be 40A. This is because a circuit for a continuous load must be sized at 125% of the load. 40A * 1.25 = 50A. The UMC will enforce this as it tells the car only 40A is available when the NEMA 14-50 adapter is attached.
I have personal experience (my own home) with an FPE breaker failing to trip and nearly burning my home down in Northern California. If I hadn't been at home, or even had been in another room for just 15 minutes more, it's likely that we would have had significantly greater damage. The root cause was a bad crimped copper splice clip (similar to a wire nut) used in the 1970's. It failed, melted the insulation on the wire, created arc'ing and a short in the wall, and when the breaker failed to trip the wire melted all of its insulation inside the wall, all the way up the wall.
FPE breakers can be replaced with expensive Connecticut Electric breakers to protect against the trip mechanism problems they experienced, but the Stab-Lok bus design is still pretty weak. That plus the Connecticut breakers are way too expensive. A full panel replacement is going to be a better value over time, IMO, at a significantly lower risk.
As for Zinsco, there are serious issues with the bus designs they used and I don't think twice about strongly recommending their immediate replacement.