I would agree that a 10 X 10 DF column, and perhaps less, would be sufficient to replace the steel column if the column alone was what there was to consider.
I would pose the question though as to on what the column was to bear, and what was to bear on the column. Unless it is rough cut, a 10 X 10 has a gross area of around 85.6 square inches or so. For a load of 50 kips, this gives a bearing stress of 584 psi. Whatever this column supports, or is supported by, will see this load. If it is wood, there will be crushing issues if Fc perp of the wood material other than the 10X10 column is exceeded. A smaller column will produce higher end bearing stresses, a larger one less. Not a difficult problem to solve, but one not to ignore.
Mike McCann
MMC Engineering