In my opinion VD does not depends so much on conductor cross section area-for 500 mcm or 750 mcm-the VD has to be the same: the resistance drops from 0.0268 to 0.01891 but in the same time the reactance rises from 0.03019 to 0.03354 [ohm/600 ft].
So for 500/3=167 A[3 parallel cables/phase] the drop will be 2.4%for 500 mcm and 2.3% for 750 mcm[ if 277 V is the supply voltage phase-to-neutral-480/277 V].
For 500/2=250 A and 2*750 mcm per phase it is only 3.42% drop.[0.8 p.f, 75dgr.C conductor temperature, flat formation].
The voltage drop depends- slightly- on p.f. , on the conductor temperature and on distance between cables in conduit[cradle or bunch layout].