It sounds like you are using TCP in your tests. For TCP, there is an inherent relationship between latency and maximum bandwidth calculated as:
TCP-Window-Size-in-bits / Latency-in-seconds = Bits-per-second-throughput
The standard window size on a Windows machine is 2^16 bytes, so this formula gives us 2^16 * 8 / 0.05 = 10,485,760 bits-per-second-throughput. It is exactly what you are observing: with the standard window size and 50ms latency the maximum throughput is 10 Mbps. This article
How to calculate TCP throughput for long distance links provides more details on the matter.
To achieve higher speeds, you would need to use UDP or adjust TCP window size, depending on what devices you are using for the test. While recent versions of Windows support the so-called TCP window auto-tuning, it may not work if either side or an intermediate router do not support it. This article from Microsoft explains more:
TCP Receive Window Auto-Tuning Level feature in Window.
You may need to employ a protocol analyser to see what
Window Scaling ends up being set to.