If the master was something higher than 16/44.1 and a lot are 24 bit word length and up to 96k, then CD cannot capture all of that data, so in theory the LP will have the edge...
Except that the LP can't capture all of that data, either. In theory, it can capture some of the energy above 20kHz--but there isn't much, and very few people making LPs even try, for obvious reasons. As for dynamic range, LPs have a much higher noise floor and much lower dynamic range than CD, so the LP loses even more data than the CD does.
Bottom line, a CD will always come closer to a hi-rez digital master tape than an LP will.