Best that I can tell with all the moves this week. The Ravens have 45 active players, considering 2 are ruled out (Stanley, Wolfe). And 4 are out on COVID protocols (Ferguson, BWill, Madibuike, Houston).
On the practice squad, Andre Smith (T), Josh Bynes (LB), Kevon Seymour (CB), and Kahlil McKenzie (DT) are COVID replacements, and do not count against the two players the Ravens can still elevate from the PS for gameday.
So that gives them 49 active players, two more to add to get to 51, and three more to deem inactive today, joining Stanley and Wolfe, to get down to 48 for the game.
Denver sports reporter Mike Klis said that Nate McCrary was released from the Broncos PS and coming back to the Ravens, but I haven't seen anything official that the Ravens have added him yet.