It's not a balance issue, it's a meta-gameplay issue, and that's why no balancing actions like changing accuracy, damage, shot speed, rate of fire, archer running speed, equipment weight, taken slots, arrows per quiver, upkeep cost, upkeep chance, melee capabilities or changing any other combat value of archers will help.
You need to change the game so that infantry isn't forced any more to chase faster archers which can attack over distance.