ΔE 24.8, loose: different enough that you should pick on purpose. Ink Magenta is a little darker, much more muted, cooler than Transparent Magenta.
Not as a straight swap; see the closer alternatives below. Loose match (ΔE 25). Ink Magenta is a little darker, much more muted, cooler than Transparent Magenta.
The same difference applies the other way round: Transparent Magenta is a little lighter, much more saturated, warmer.
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 Transparent Magenta on the colour wheel See Ink Magenta on the colour wheel
All matches: Transparent Magenta equivalents · Ink Magenta equivalents