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There is no official ML build for the M50, yet. If the autoexec.bin doesn't exist, nothing happens. Magic Lantern uses a boot flag to tell the camera whether or not to load the autoexec.bin from the Magic Lantern build after loading the regular firmware.
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Please find the FIR file for enabling the boot flag on the EOS/PowerShot M50.
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This is very clear when a1ex wrote just above the file link: IT IS NOT A MAGIC LANTERN BUILD it is a developers' tool that allows a coder to change the boot flag so their camera can load their code for testing. What you downloaded and put on your camera was simply a piece of firmware that allows you to change the boot flag of the camera.
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