First off, I'm white, so don't have an opinion that counts and always do my best to use the preferred terminology for people. However, I've always felt that coloured, person of colour etc is inherently "othering". To me, it implies that white is the norm and that the person of colour is somehow different. After all, we are all "a person of colour". I just happen to be a slightly pasty beige colour while someone else is, for example, a coffee brown, or whatever.
As I said, I don't get up choose the term that other people want to be used to refer to them so will use whatever people prefer. But people being people, the preferred term is different depending on the person.
I don't live in a very diverse area. Pretty much all of the people living here of my age who are not white are foreign born so if I had to, I would generally refer to them as Indian, Moroccan etc. Younger ones, I would use Black for those who are. People of Asian origin, I am not sure what to use. They're not Indian, or whatever, as they were born and raised here and I don't like putting them in a group of "people of colour", as to me, it is othering. Also, it's not a term you hear used where I live (I'm not UK or US, which is where it seems to be commonly used). Luckily, I rarely need to describe someone using their ethnicity.
Sorry, that's a bit of a ramble.