I'm getting the same issue on 2021.3.16f1 right now.

2020.3.24f1 Still has this bug

This happened to me in the 2020.3.0f version, well not exactly, my image was in "Sliced" anyway I couldn't change the image color by script, and the only way I found to fix it was using a public variable of color and set the color in the inspector for then assigning that color to the image via script, instead of creating that color by script.

The issue has showed up again in version 2021.2.7f1. The color field does indeed change but the image on both the screen and editor preview remains the same unless the image is being hovered.

I have the same problem on 2021.2.6f1. The inspector shows the intended color, but the ingame doesn't change, only on user's input (which is not an option)

I'm having the same issue as the other commenters, I'm using 2020.3.24f1 and the image wont change via script. Debug.Log displays the Image.color as the intended changed color but I see no change in game. When I select the image color in the hierarchy and open the small color menu it displays the incorrect color in the "old color" swatch and the correct color in the "new color" swatch but I see no evidence of the new color in-game.

Im on version 2019.4.16f1 and the image wont change its color via script.
I tried seeing its color with Debug.log(image.color) and it actually printed the color i was changing to, so it seems like the color does change but there’s no visual evidence of it in the inspector neither the game view.

Still seeing this in 2020.1.9f1!

I'm using 2020.1.8f1 and it still happens while trying to change the image color.

reproduced in 2019.4.8f1. While in play mode I can select the image's color and it actually shows the correct color in the pop up...but not in inspector nor the game view itself.