ΔE 22.4, loose: different enough that you should pick on purpose. Transparent Brown Iron Oxide is a little darker, much more saturated than Bony Matter. They are different kinds of paint: Army Painter Bony Matter is a one-coat contrast-style paint and Golden Transparent Brown Iron Oxide is an ink, glaze or transparent paint, so they won’t behave the same on the model even where the colour is close.
Not as a straight swap; see the closer alternatives below. Loose match (ΔE 22). Transparent Brown Iron Oxide is a little darker, much more saturated than Bony Matter. They are different kinds of paint.
The same difference applies the other way round: Bony Matter is a little lighter, much more muted.
ΔE is the colour difference between our two swatch estimates: under about 6 is close, over about 15 is loose. Real paints also differ in finish, coverage and how they thin, so test before you commit.
See Bony Matter on the colour wheel See Transparent Brown Iron Oxide on the colour wheel
All matches: Bony Matter equivalents · Transparent Brown Iron Oxide equivalents