We havent heard if he is running. But Conway was at a dusadvantage in KY when he ran against Bevin. McConnell just said to Paul focus on Senate race. Fischer wont win, but Dems will have a race if Adam runs.
If you define a race as losing by 8 or 10 instead of by 15 or 17, then maybe.
Gubernatorial and Senate Races are 2 very different things. Kentucky is deeply atlas blue for the Senate and purple-atlas red for the governor's chair. That's how it's been for several cycles and it should stay that way for at least the next few years.