Mon-El of course was Sodam Yat's successor with the ring until recently. There probably would be no reason for the ring not to choose a Kryptonian if one was around...
Aren't Lar Gand and Sodam Yat the only Daxamites in the 21st century who aren't total assholes?
In my own fan fic I place it in the Andromeda galaxy
Drawn or just scripted? I'm curious, because you seem like a bright guy. At the same time, Andromeda? Boo. Too far. There have got to be yellow suns closer than Sol. Then again Jor-El made crazy-science telescopes that let him leer at bare-chested men in Kansas and built a spacefaring rocket in his garage, so maybe I'm not equipped to scrutinize his methods.
I guess if you really wanted a planet with 1)a red sun, 2)experienced an extinction event, and 3)is close you could do worse than putting Krypton around Procyon B, currently a white dwarf but (of course) previously a red giant. Depends on whether you want Krypton to "explode" or to be overtaken by a "supernova." Both of these are, astronomically speaking, stupid, but really they're not at all dumber than a civilization somehow being taken by surprise by the inevitable expansion of their sun and Kal-El was sitting in his rocket for a billion or two years...