4948 reallocated sectors would be plenty reason for me to replace the drive. As you can read others may have different opinions. Which kind of shows the difficulty in answering this type of questions, it's mostly a matter of opinion, or experience perhaps, but there are no rules carved in stone that tell us to replace a drive if number of reallocated sectors reaches [insert number or percentage here].
I assert that many people asking about an x number of reallocated sectors are seeking reassurance. And so fact that this number is non zero in itself causes an uneasy feeling. The simplest answer I think is simply replacing the drive if you want peace of mind.
Any drive can fail at any point without warning. In addition to that, I think there's evidence that supports the statement that any drive with non zero reallocated sectors has a higher chance of failing 'soon' than one with zero reallocations (and pending reallocation sectors), for example: https://research.google/pubs/failure-trends-in-a-large-disk-drive-population/.
OTOH one might argue, with > 1000 sectors to spare, why worry about 100 reallocated sectors? Or with 10000 to spare, why worry about 4948 reallocated sectors? While the question sounds reasonable, I personally think it's a bad idea to wait until the number of reallocated sectors reaches the point where it causes the normalized value to reach the threshold as set by the manufacturer.
Another point that can be made, is to observe if whatever number of reallocated sectors we have is static or increasing. I agree one could argue that if the number is static there's less reason for concern compared to the situation where we see the number steadily increase. I once had a drive that got rejected by a RAID controller due to two recorded reallocations, I have used the drive for years without the number ever changing. Still, IMO there's a difference between 2 or 4948 reallocations.
One may argue we can try to see number of reallocations in relation to other attributes. Now this may be less straight forward than it may seem. While reallocated sectors is pretty standard across manufacturers, many other attributes are not. So one may interpret reallocations as 'soft' errors based on values of other attributes, in reality a drive reallocating a sector means the sector is physically unusable. The drive will reallocate once it has determined a sector is no longer safe to use. So either drive determines it can not write to the sector or it can not reliably read back what it just wrote. A soft error that is recoverable can be resolved by writing recover data back to the exact same sector. Reallocation by definition means the drive deemed it a hard error.