Yes, the new target must be within the same attack's reach
The description of the feature reads:
Stand Against the Tide. When a hostile creature misses you with a melee attack, you can use your reaction to force that creature to repeat the same attack against another creature (other than itself) of your choice.
To make an attack, you need to do these in order:
- Choose a target. Pick a target within your attack's range: a creature, an object, or a location.
- Determine the modifier. The DM determines whether the target has cover and whether you have advantage or disadvantage against the target. In addition, spells, special abilities, and other effects can apply penalties or bonuses to your attack roll.
- Resolve the attack. You make the attack roll. On a hit, you roll damage, unless the particular attack has rules that specify otherwise. Some attacks cause special effects in addition to or instead of damage.
The feature allows you to choose a target instead the creature, but the requirement for it to be in the creature attack's range is not removed. Note that it must be the same attack, meaning if you use a Vorpal Longsword on the previous attack, you can't change the attack to use a normal shortsword. Any "on attack" effects will automatically apply, for instance if you have cast Thunderous Smite before and still have it active. Paladin's Divine Smite is not automatically applied, though.