ΔE 49.7, loose: different enough that you should pick on purpose. Ink Magenta is a little lighter, warmer than Transparent Purple.
Not as a straight swap; see the closer alternatives below. Loose match (ΔE 50). Ink Magenta is a little lighter, warmer than Transparent Purple.
The same difference applies the other way round: Transparent Purple is a little darker, 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.
See Transparent Purple on the colour wheel See Ink Magenta on the colour wheel
All matches: Transparent Purple equivalents · Ink Magenta equivalents