There are several possible issues here.
First of all, that is way too big for a standard zip file. Zip is a horrible, ancient format. It doesn't support anything larger than 4 GB. There have been many, many different variants of the Zip format to handle the many different limitations of the original. This 24.5GB file must be using one of those variants. And it may be one that the Mac doesn't support.
Also, the whole concept of "storage" on the Mac has been thoroughly trashed over the past few years. So when someone comes along and says they have a problem, but they have half a TB of space on their computer, that statement can be completely discounted. It has no meaning of any kind. Are you saying that you have a 500 GB drive? Or are you saying that you have 500 GB of available storage? Or are you saying that you have 500 GB of free storage? No way for us to tell on this end. You might not be able to tell on your end either.
If you use Disk Utility, with default settings, and click on your "Macintosh HD" volume. It will tell you how much actual "free" storage you have. There are a couple of command-line tools that will also tell you how much free storage you have. But anything else you see is blatantly lying to you. Your "available" storage is an absolute fantasy.
Assuming you actually do have enough free storage to unzip that file, you can try to unzip it on the command line with the "unzip" utility. Failing that, you can try downloading a 3rd party unzip tool such as unarchiver. 3rd party tools may have better support for obscure PC ZIP variants. However, you should probably delete any such 3rd party tool after you extract the file. Zip files are a primary mechanism for software downloads and installation. 3rd party unzipping tools are one of the best ways to corrupt the apps that you download. Just because some tool supports crazy PC zip variants doesn't mean that it supports standard Mac zip files.