The more i look at the 500 s&w as a caliber the more it out powers the 475.
Skippie, by you saying "it out powers the 475," I am curious as to what you plan to hunt with your handgun.
On paper, you are probably correct. But for practical hunting purposes, the .475 will work for any animal on earth, and generally can be had in a more portable package than the .500 comes in.
Unless you are talking Encore. In that case, that platform can be almost too light for either of those chamberings, at least in terms of felt recoil. Here, the answer would be a muzzle brake.
But whatever you choose, go for it, be confident, and if you have more Q's, ask here. There are some really experienced people here that can help guide you in the right direction.