I spoke with a guy from the golf cart manufacturer’s parts department. He told me the power going to the switch is 48v and is converted to 12v AFTER the switch. However, looking at the wiring diagram it appears to me the power is 12v going into the switch. I’m not near the cart now to verify, but based on what (little) I know about schematics I think I am right 12v at the switch.
Oh and yes the voltmeter is rated at 48v.