How to select point cloud color stylizations and assign color schemes.
Click Point Cloud tab
Visualization panel
color stylization flyout to choose one of the following stylization options.

Colorization for the intensity, elevation, and classification stylizations is based upon the color scheme you assign. You can assign a different color scheme to each stylization.
Click Point Cloud tab
Visualization panel
color scheme flyout to choose one of the following color schemes. Spectrum is the default.

For the intensity and elevation stylizations, you can edit the color band or gradient ramp for a color scheme and change the minimum/maximum range values to which the color ramp is applied. For the classification stylization, you can assign the color to be displayed for each classification category.
Customize the Color Scheme for Intensity and Elevation Stylizations
Visualization panel
Color Mapping. 

Customize the Color Scheme for the Classification Stylization
Visualization panel
Color Mapping. 
