We can add a Color sorting option in PLP page with color pallete showing.
- Go to Website in Edit mode and add Sort Field as Color

- Go to Configuration, in that go to Shopping Catalog subtab and select Facet.

- In that Add Item Field ID as Field Id, Name as Display Name, Behaviour as you wanted, Template as facet_facet_navigation_item_color.tpl and save it.

- verify that you added id for colors in layout color in configuration.
