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Speak up, but leave your coworker out of it. Find out how you can make more and then decide what your next move should be.
Pro
I would start applying quietly. I once worked for an accounting firm and they said everyone gets paid the same amount until your 3rd or 4th year in. During the second year in, I found out my coworker was making more than me by $500. Not a big deal since the amount is small but I just didn’t like the fact that leadership told us we are all paid the same yet there are minor differences. If they were more upfront, I wouldn’t be quietly applying.
you two are in the same role doesn’t mean you two are equally effective at your job