Motor, electrics, most things on the cart will be fine anywhere from about 42 up to about 55v.
Your batteries will care when the motor starts pulling more amps than they're designed to output, so do alot of research on your battery choice for constant current rating, and if it's a common battery brand see what experiences other people have had with that battery when used in a cart.
As Pat said, a lot of 12v LI batteries when used in series do not have the ability to constantly output enough current for the cart demands, and their BMS' will go into shut-down. Generally a 48v battery or multiple 48v in parallel will do much better.
Lots of info on this forum on Lithium setups. For more Club Car specifics check in the Club Car Lithium section.
https://www.buggiesgonewild.com/forumdisplay.php?f=98
Good luck with your project! :thumbup