The sensitivity of gas and water phases to DAS acoustic frequency bands can be used to interpret the production profile of horizontal wells. DAS typically collects acoustic signals in the kilohertz range, presenting a key challenge in identifying the sensitive frequency bands of the gas and water phases in the production well for accurate interpretation. In this study, a gas–water two-phase flow–acoustic coupling model for a horizontal well is developed by integrating a gas–water separation flow model with a pipeline acoustic model. The model simulates the sound pressure level (SPL) and amplitude variations of acoustic waves under different flow patterns, spatial locations, and gas–water ratio schemes. The results demonstrate that within the same flow pattern, an increase in the gas–water ratio significantly elevates acoustic amplitude and SPL peaks within the 5–50 Hz frequency band. Analysis of oil field DAS data reveals that the amplitude response range for stages with a lower gas–water ratio falls within 5–10 Hz, whereas stages with a higher gas–water ratio exhibit an amplitude response range of 10–50 Hz.