Regarding your thoughts on the question:
$$\mathbb Z_{48}\not\cong \mathbb Z_6 \times \mathbb Z_8 \quad \text{and}\quad \mathbb Z_6 \times \mathbb Z_8 \quad \text{is NOT cyclic}.$$
$$\mathbb Z_m\times \mathbb Z_n \;\text{ is cyclic and}\;\; \mathbb Z_m\times\mathbb Z_n \cong \mathbb Z_{mn} \; \text{if and only if}\;\; \gcd(m,n) = 1$$
As you can see, $\gcd(6, 8) = 2 \neq 1$, hence, although $\mathbb Z_6\times \mathbb Z_8$ is abelian, it is not cyclic.
Indeed, $\quad\dfrac{48}{\gcd(6, 8)}= \dfrac {48}{2} = 24.\;$ Note also that $\;\mathbb Z_6 \cong \underbrace{\mathbb Z_2\times \mathbb Z_3}_{\gcd(2, 3) = 1},\;$ so $$\mathbb Z_6\times \mathbb Z_8 = \mathbb Z_2\times \underbrace{\mathbb Z_3\times \mathbb Z_8}_{\gcd(3, 8) = 1} \cong \mathbb Z_2 \times \mathbb Z_{24}$$
So the correct answer, as you state earlier is that the order of the largest cyclic subgroup of $\mathbb Z_6\times \mathbb Z_8$, is the least common multiple of the factor groups: $$\text{lcm}\,(6, 8) = 2^3 \cdot 3 = 24$$
This cyclic subgroup is $\langle (1, 1)\rangle$, the cyclic subgroup generated by $(1, 1)$.