[native] Convert ColorSelectorModal to a functional component

Summary: Related Linear issue here. Had this in my git stash from last night doing some quick and easy Backlog work, putting up the diff now.

Test Plan: Tested the ColorSelectorModal before and after and it remained the same and the ColorSelector worked as expected.

Reviewers: atul, tomek, jacek

Reviewed By: tomek

Subscribers: ashoat

Differential Revision: https://phab.comm.dev/D4899