The first set of images show your original values for comp (47 k, 220 p) and Rs (100 m). The sim start by setting the initial condition of the 1000 uF cap to 48 V to speed things up. Just before 2 ms the sim removes the 48 V IC and the regulator take over. Note how the 48 V line drops down when heavy loaded at 2 A while the error amp (U1-Comp) swing max positive to force duty cycle > 75% to try correct, but fail, due to the duty cycle limitation for peak current allowed from set val of Rs. Without the slope compensation, there will be stability issues from sub harmonic oscillation and double-pulse switching with these large duty cycles. It appears, we need to reduce Rs to allow higher peak currents through the MOSFET.
Next take a look at the gain/phase plots. Notice how low (~ 25 dB) our gain is at 10 Hz. That means suppression at typical mains frequencies (50, 60 Hz) will be poor and also affect things such as DC accuracy, load regulation, etc. The loop BW is low (~320 Hz) and this will cause slow transient response and longer recovery times (over/under shoot of output voltage) with sudden large load changes.
The next set show the performance difference with the comp values modified as well as reducing Rs. The output load current is switched between 1 A and 2 A. Looking at U1-Comp again; it shows that the opamp is comfortably within its operating limits and correcting for the load changes while hardly moving and nowhere near hitting any level limits.
Looking at the gain/phase plots, the BW increased to around 1.4 kHz, while still having a healthy gain margin (~ 20 dB) and phase margin (~ 60 deg). The high-gain margin should guard against stability issues due to component tolerances, heat, drift, etc. DC gain is now near 70 dB. We can push the BW higher by using 120 k for R9. This will make the BW about 1.8 kHz while still keeping the phase margin at 60 deg. Gain margin drops down to 12.5 dB, which is still very safe.
Note: The 1000 uF cap (C1) is modeled with an ESR of 50 m Ohm, and not visible in the schematic.