Red or blue wire?

Solution 1:

It is random. Both options actually trigger the exact same event (ROCK_STARSHIP_MINE_DEFUSE2), so it really doesn't matter which you choose.

The best resolution for this event is to use a beam drone to remove the bomb, costing you a drone part but still giving a low-level scrap reward. Another possibility is to use level 5 engines, which costs nothing but gives no reward.