Once a bullet (say, 75 grain .223 TAP) moves beyond its fragmentation range does it merely create a glorified .22 cavity or will it still yaw after a relatively short 'neck' and create significant temporary cavitation?

Is the case the same for popular defensive rounds in 6.8 and 7.62x51 as well? In other words, is there advantage (beyond a .30 vs. .22 caliber hole) to hitting an unobstructed target at great range with a 6.8 or 7.62 vs. a 5.56?