To download the mod head on over to: https://maximhere.me/modifications/
Then just click the download button for downloading the text color mod as seen below:

After you've downloaded the mod head over to your downloads folder, amd locate the text color mod zip file.
Inside the zip file there should be a "csgo_colormod.txt"
Head on over to your library and browse local files for CS:GO as shown below:
In the CS:GO folder go into the "csgo' folder and move onto "resource" folder inside.
Your path should be looking like this:
"Steam\SteamApps\Common\Counter-Strike Global Offensive\csgo\resource"

Now drop the "csgo_colormod.txt" file into the "resource" folder.
After this, all you have to do is add "-language colormod" into your launch options since the colormod acts like a normal language file for the game.

Hover over CS:GO in the steam library, right click it and go into properties and paste "-language colormod" into the launch options like shown below:

You will be able to see the mod working just by going into the main menu and seeing your rank getting a better to understand rank number, or just going into the playing category and seeing different text

The mod is essentially a modified language file which doesn't give you any advantage other than being able to understand what's written a lot faster without unnecessary clutter.