You can use the distance() system expression. Just compare the distance from the player to the bullets with your range and if the distance is greater than the range destroy it.
Compare 2 values: distance(player.X, player.Y, bullet.X, bullet.Y) > 200 <--- Your range in pixels
----> bullet: Destroy
You could also use the fade behavior to destroy the bullet after a certain amount of time.
I hope this helps!