ocaml, 158 bytes

Result

AC

Duration

730ms

Code [DL]

open String
let rec r s=let t=read_line()in s^"\n"^(try let p=index t 'K'in(make p ' ')^(make((index s 'T')-p+1)'*')with _->r s);;print_string(r(read_line()))

stdin

                                     T            
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                        K                         

stdout

                                     T            
                                     T            
                                     T            
                                     T            
                                     T            
                                     T            
                                     T            
                                     T            
                                     T            
                                     T            
                                     T            
                                     T            
                                     T            
                                     T            
                                     T            
                                     T            
                                     T            
                                     T            
                                     T            
                                     T            
                                     T            
                                     T            
                                     T            
                                     T            
                                     T            
                                     T            
                                     T            
                        **************

stderr

strace