You can use your existing circuit, it should be 10-3 wire since it's a 220V circuit.
Just remove and exchange your current outlet (the 50A) for a smaller 20Amp if that's what the new heater calls for. There is a pattern difference so you cant plug a high draw appliance (welder) into a low amperage circuit....this is why dryers, ranges, welders (all 220V) have different outlet patters/plugs because they all have a specific amerage requirement.
So swap out the outlet you currently have, swap out the 2 pole breaker you currently have for that circuit to a 20A 2pole and your done. Simple trip to the homecenter to buy new outlet/new plug to fit new outlet, and a smaller breaker...then just swap them all out. Grab a coffee, cold one and figure about an hour and your DUN- done.