.NET Core's marshalling for System.Drawing.Color in COM Interop uses the System.Drawing.ColorTranslator type to convert the Color object to an OLE_COLOR value.
The System.Drawing.ColorTranslator type is forwarded from the in-box System.Drawing assembly to the OOB System.Drawing.Common assembly. As a result, the type may not always be available when marshalling a System.Drawing.Color. Additionally, the System.Drawing.ColorTranslator type is unavailable for our tests in the CoreCLR repo to use to verify behavior (which was how I discovered this issue).
cc: @AaronRobinsonMSFT