Without specific details regarding your setup and location, the only thing that is certain is that hotspot usage would come out of your 50GB priority data and hotspot data would not be subject to de-prioritization until you reach that overall usage limitation. It would not lift the 5mbps hotpot usage throttling.
However, there are some exceptions on Visible+. "5GUW access is exclusively available with Visible+ and is not subject to any data prioritization limitations" (as per the legal disclosures at https://www.visible.com/legal/legal-disclosures). There is some anecdotal evidence (on the Visible subreddit) that it also applies to hotspot data usage while on 5GUW and some insist that the mbps limit doesn't apply either (at least for now whether intentional or not).
Since there are so many unique variables that go onto the performance you'll get, I can only suggest trying it and see how it works for you since everybody's experience is unique. FWIW, the most cost effective way to do that IMHO is to signup for a Visible+ account using somebody's referral code which would give you a month of service at $25 to test it out assuming your on the free trial. If your existing phone has dual SIM capabilities you could leverage that without committing, porting, etc until certain it works out. In the past I leverage my phone's dual SIM capability utilizing my old carrier for phone and text, while using my Visible "trial" for data.
To get a referral code look at the profiles of users who are active here and offer help - you'll likely find their referral code in their posting history. Do someone a solid and reward those who are actually helpful here (whether that's me or someone else I don't care) rather than those who flood the Savings Spot on a daily basis without ever participating here except for posting their referral code(s).
With the current promotion consider the most cost-effective way to try it out for a full month without committing. You can always cancel and then signup for a new account is terms are better at that time.
