“Reset devtools” doesn’t fix the issue. I am not entirely sure what the exact cause of this bug is, but the only fix available will need to be done in an update. I could not find it in the code itself, although I didn’t spend much time looking.
The main issue is that when your dev tools are docked to the bottom of the window, then the color picker will not show. It will load though, but the interface wont show. More than likely it is either in the wrong layer, or has some issue with its actual display, as no errors are thrown.
Anyway, the reason resetting dev tools works is because the default setting is to dock the dev tools to the right side of the screen (presumably, their testing showed most users use a wide screen, multiple screen, setup; as a result, there is room on the side of the screen).
If you, like me, use dev tools docked to the bottom, then in order to see the color picker, you need to change the dev tool temporarily to be docked to the right side of the screen. This does not require the settings to be reset, just simply change the docking position.