The idea here is to have different categories of words or phrases, to which you would assign colors. When that word or phrase is typed in a note, it would automatically be colored according to the categories color, to which the word or phrase is assigned.
I’m an old UltraEdit user. It has the ability to do the above, but Obsidians capabilities far exceed that of a plain text editor, especially with organizing daily logs.
A similar request was made over in the Help forum (not by me), but didn’t get any traction.
Help automatically change the colors/font/size of certain words