label color

There's no direct way to do this.  The workaround is to set the field's label to "COLLAPSED", and right above it, add a Rich Text Display Field, wherein you can add whatever formatting you like.  The main issue with this approach is that if you set the paragraph field to Required, whereas usually the "required asterisk" would appear alongside the standard label, here there would be no label and no asterisk (though the "requiredness" functionality will still work as it would otherwise).

There's no direct way to do this.  The workaround is to set the field's label to "COLLAPSED", and right above it, add a Rich Text Display Field, wherein you can add whatever formatting you like.  The main issue with this approach is that if you set the paragraph field to Required, whereas usually the "required asterisk" would appear alongside the standard label, here there would be no label and no asterisk (though the "requiredness" functionality will still work as it would otherwise).