Quoted:
The bullet will accelerate towards the center of the earth at 32 feet per second per second. Gravity acts on the bullet the same whether it is moving horizontally at some velocity or just dropped with no horizontal velocity, so, if fired horizontally, it will take as long to hit the ground as if you dropped it from the same height. The difference in distance traveled will relate to the velocity of the bullet in air because it will travel farther in the same amount of time.
This.
All else being equal (muzzle height, muzzle angle, air density, curvature of the earth, same gun, etc.), the maximum distance traveled will depend on the muzzle velocity and the ability of the projectile to maintain its velocity (inertia) while resisting friction (drag). This is where bullet mass and its ballistic coefficient matter.
Allowing for miniscule differences caused by different shapes and centers of gravity, the two bullets will fall from a given height at the same speed and this time should be essentially identical to the times of flight. (Assuming they are fired on the horizontal with no loft.) What matters is their average velocity while in flight.
That said though, that difference in *maximum* range is likely to be relatively minor between any of the rounds for a particular chambering. Of course, this should not be confused with the maximum *effective* range.