The equation of the tangent to the parabola \( y = x^2 \) at any point \( (t, t^2) \) is given by:
\[
tx = y + at^2
\]
Since \( y = x^2 \), we substitute and rewrite:
\[
y = tx - \frac{t^2}{4}
\]
Solving this with the equation \( y = (x - 2)^2 \), we equate:
\[
tx - \frac{t^2}{4} = (x - 2)^2
\]
Expanding and simplifying:
\[
x^2 + x(t - 4) - \frac{t^2}{4} + 4 = 0
\]
For a common tangent, the discriminant must be zero:
\[
(t - 4)^2 - 4 \left( 4 - \frac{t^2}{4} \right) = 0
\]
Solving for \( t \):
\[
t^2 - 4t = 0 \Rightarrow t = 0 \text{ or } t = 4
\]
Substituting \( t = 4 \) in the tangent equation:
\[
y = 4(x - 1)
\]
Thus, the correct answer is \(\boxed{(b)}\).