Finally, Custom Palettes! 🎉
Don't forget to share the best of them in the Discussions: https://github.com/pfrankov/obsidian-colored-tags/discussions/18

If you not satisfied with text contrast, you can enhance contrast using new Accessibility options.

Also you can turn off Mixing colors and Transition in gradients.

Instead of Lightness and Saturation there are two Adaptive palettes (because they adapt to dark theme). I've tried all the options for shifting colors to keep them the same brightness and saturation and this is the most contrasty of them all. Bonus: -1 heavy computation on start of the plugin.