Apologies - you can see my confusion here. My frame is a 386 but I'm not sure about the type of bb I have. Thank you for your suggestion above.
Understood. The BB that you have is thread together type of BB that threads into EACH OTHER rather than into the frame. Traditional BB386 bottom bracket is just two cups that you have to press on each side by using a bearing press like tool. The thread-together is a way to counter squeaking noise that many people complain because of press-fit type of BBs e.g. BB30, BB386, PF30 etc. So companies like Token, Wheels mfg, and few others found out a novel way out. Instead of just having two cups press fitting into the bike frame, they developed a metal tube/sleeve with threads to sit in between two press fit cups. Now instead of just press fitting your cups you have to rotate those cups to fit into that metal sleeve (rather than into the frame, because your frame still does not have any threads). Basically its a trick. You have threaded bottom bracket inside a press fit style frame.
Hope that makes sense.
Now, you say the OD of the cups is 49 mm with 16 notches. That Muqzi all-in-one tool will fit on it (the 39-49mm side). Don't want to add to confusion but T47 and BB386 outer diameter is same (48.5mm). See photo of my T47 BB with that Muqzi tool. From the ones that you listed, any tool with 49mm OD will fit too.
Whether you get torque wrench or plain, doesn't matter. You have to get the one with 49mm OD.