Life Caulk is lovely stuff, if you can keep it from getting all over, but it's not a bedding compound. Nor is any glue, like 5200. Get some Dolfinite or similar.
Assuming the cranse can fit back against a shoulder on the bow sprit, the sprit may be a trifle dried but that won't hurt. But test the fit that the cranse really can snug down to the shoulder on the bow sprit. The best cast cranse irons have just the slightest bit of taper and if you goober in too much bedding it won't set down correctly.
G'luck
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