Thanks for your question Angie! I am by no means a language expert but I’ll try my best to tackle this one based on what I’ve learned.
First off, since Blackness is not monolithic, there has never been any time in history when all Black Americans have agreed on what to call us (just that you don’t call us the N-word). The term ‘African-American’ is a marketing phrase that ad men used to attract Black consumers. Some Black people liked it, some didn’t. The main difference between ‘people of color’ and ‘colored people’ is that one term was coined by a community of oppressors and the other came from within a community of oppressed people seeking liberation.
Personally, my preference is for the phrase ‘people of the global majority’, language I got from Dr. Kamilah Majied. It accurately summarizes non-white people without being recolonizing language.
With that being said, I know Black people who prefer being called Black, African-American, or people of color.
I don’t know anyone who prefers to be called a colored person, so I would definitely retire that, if you haven’t already!