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Welcome to the forum.
In general terms, unless you are setting up the Project to be authored to DVD, you basically do NOT specify the end, other than to just not add any more Clips.
It sounds like there is a disparity between where you think the Timeline should end 04;44;06 and what you are getting, 48;27;00. This is usually caused by "Orphans." Those are Clips, or parts of Clips that end up left out on the end of the Timeline.
To check, hit the \ [Backslash key] to zoom out the full Timeline. What you will probably see is your 04;44;06 portion, blank space, and then some Frames/Clips (Orphans) out at 48;27;00. Move the CTI (Current Time Indicator w/ the red Edit Line) out to those Orphans, and see what they are. They could be segments of Clips, where you Razored sections to be used back near the beginning of the Timeline, or they could be individual Frames, that got sheared off. Depending on what you find, you might just lasso them all with the Cursor and Delete them, or maybe there is material there, that you do wish to use, but just forgot.
THANK YOU! Bill...
I found the tiniest thinnest sliver of something or other...
Thank you for that. I've been pulling my hair out...
Thank you for asking the question, as it will help others, and spurred me to do the article, linked above, as this is fairly common.
What happened to you was the "case of the sheared Frames." This is an anomaly in PrE (I have never seen it in PrPro), and I reported on it some years back. It has everything to do with the "force" that one applies, when butting up Clips - too much force, and a Frame, or two, are sheared off. As the Clips are tightened up, those Orphans are left, and sometimes way out there. When working on the Timeline, one usually has a zoomed-in view, and they never are even aware of the Orphans.