Okay I figured out the issue. The OpenVPN server has to match the RV50 OpenVPN Client advanced settings verbatim. In my case the RV50 OpenVPN advanced settings are such:
Tunnel-MTU: 1500
MSS Fix: 1400
Fragment: 1300
Thus, the PFSense OpenVPN server needs the exact same settings. Under OpenVPN server-> Advanced Configuration I added the following:
tun-mtu 1500;mssfix 1400;fragment 1300
Once I put in the above settings, voila everything is pingable!