For the first time in twenty years, Microsoft is updating the Windows console with more legible colors. Windows 10 preview build 16257 rumored to be available later today should include the overhaul of the legacy color scheme.
The legacy default scheme was not built for modern displays and does not render as well on newer high-contrast LCD displays. This is particularly apparent with deeply saturated darker colors like blue.
The new default colors will modernize the look of the Windows Console and make it more congruent with other terminal experiences, such as the integrated terminal in VSCode.
A clean install of Windows 10 with the new build will show the new default colors, but simply upgrading will not affect them. Microsoft says that this is because they don't want to overwrite any existing custom color settings.
We'll keep our eyes out for Windows 10 Preview build 16257 and more information as it comes.