Can I use a 50A ESC with a Motor drawing only 17A of current.

yes sajid there is no upper limit on an esc A rating but there is one on the lower end. you can use hocever higher amperage esc so long as it is above 17A or more preferably 20A

Subbu

YES. no issues.

But if you are using it on a plane then using a 50Amp ESC would be a -ve on weight per say.

Thank you pros. :-)