Another possible consideration when deciding between 38 or 50 is what optic system you will be using to actually take the shot?
I use a Helion XM50 thermal spotter (4:1 lowest mag) but then use IR (Photon XT with doubler) for confirmation & shot which is 10.5x mag. For me any perceived ‘close in’ advantages of 2.5 mag possibly become academic given my choice of IR (although playing devils advocate you could also argue that the more reference points that you have from the thermal the easier it is to acquire the quarry through the IR’s tighter FOV)? No right or wrongs really...... just whatever you prefer?
The prime limitation that has already been mentioned however is that thermals rely on a good ‘thermal gradient’ to work I.e. hot beast against a cold winter background =

; hot beast against hot background e.g.sun baked rocky or ploughed ground =

. Anything in between the lens & target that interferes with heat detection e.g.mist, rain, or even heat haze effectively acts as a ‘screen’ and reduces clarity in proportion to the density’ of this ‘screen’.
Hope this helps but either way one thing is for sure - once you’ve used thermal you’ll never go back. Absolute game changer