In the Name of Allah, Most Gracious, Most Merciful.
All praise and thanks are due to Allah, and peace and blessings be upon His Messenger.
In this fatwa:
It is permissible to wear colored contact lenses as long as they are not worn to deceive or allure others.
Answering your question, Dr. Muhammad Salama, PhD, Islamic Studies in English, Associate Professor at the Faculty of Islamic Sciences al-Madinah International University (Mediu), states:
Colored contact lenses have the same Shariah ruling as other adornments. They are basically permissible.
But colored contact lenses may not be used to deceive or allure others as commonly practiced by a large segment of their users. Such usage is undoubtedly forbidden.
Almighty Allah knows best.