colored vs Black person

colored and Black person both are nouns.

Word	Noun	Adjective	Verb	Adverb
colored	Yes	Yes	No	No
Black person	Yes	No	No	No

As nouns, Black person is a hypernym of colored; that is, Black person is a word with a broader meaning than colored:

colored: a United States term for Blacks that is now considered offensive
Black person: a person with dark skin who comes from Africa (or whose ancestors came from Africa)

Other hypernyms of colored include African-American, Black, Negro, Negroid, blackamoor.

colored (noun)	Black person (noun)
a United States term for Blacks that is now considered offensive	a person with dark skin who comes from Africa (or whose ancestors came from Africa)

colored (adjective)	Black person (adjective)
having color or a certain color; sometimes used in combination
(used of color) artificially produced; not natural
having skin rich in melanin pigments;
favoring one person or side over another