They both have infinite range other things being equal. Also without absorption the intesities are equal at equal ranges.
Or another another way to ask could be..
A 23watt 5000k bulb could produce light that would travel 2 miles. A 23watt 2700k bulb produces a light that would travel 1 mile. In order to to get the red light to reach 2 miles I would have to increase the 2700k bulb to 40 watts????