Place red potatoes and sweet potatoes into a large pot and cover with salted water; bring to a boil. Reduce heat to medium-low and simmer until tender, 15 to 20 minutes; drain.
Transfer potato mixture to a large bowl and refrigerate until cooled, about 30 minutes.
Mix mayonnaise, red onion, horseradish, mustard, olive oil, bacon, garlic powder, sea salt, and white pepper, respectively, into potato mixture; garnish with paprika.