No, cfs is a measure of flow not velocity. In terms of this spillway, 50,000 cfs can be delivered as 10 ft of water travelling at 20 mph or 5 ft of water travelling 40 mph. Same amount of water but different splash pattern.
I believe the output is still 50k CFS. The difference in flow at the bottom is likely do to different velocity. The water leaving the reservoir is now under less pressure since the level has dropped. Water is no longer squirting out, but rather flowing out.