Sanguine Highlight vs Ferrari Red

How close are they?

ΔE 15.9, loose: different enough that you should pick on purpose. Ferrari Red is a little darker, warmer than Sanguine Highlight.

Can I use Ferrari Red instead of Sanguine Highlight?

Not as a straight swap; see the closer alternatives below. Loose match (ΔE 16). Ferrari Red is a little darker, warmer than Sanguine Highlight.

Can I use Sanguine Highlight instead of Ferrari Red?

The same difference applies the other way round: Sanguine Highlight is a little lighter, cooler.

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.