I'm 4'8 and my weight is 45. Is this right option for me, or should I buy Pept \/ Yamaha Ray z?

You may go for the TVS Scooty Pep Plus, the vehicle is light weight and can easily handled. Moreover, you can have a test ride of the scooty for a better idea of comfort and ride quality by visiting the nearest dealer in your city. You can click on the following link to see the details of the nearest dealership and selecting your city accordingly - Dealers.