In real physical terms, no the color of your BB doesn’t have any major distinction on its performance.
Some airsofters like to use lighter BBs that are white or yellow to be able to see them flying through the air more easily, which makes it easier to see where you’re shooting and if you’re hitting your target.
The drawback is that this also makes it easier for opposing players to see where they’re being shot from, making you easier to spot and thus more in danger of receiving accurate return fire.
The benefits and drawbacks of this need to be weighed up according to your particular playstyle, but the color of your BB won’t have any major impact on gameplay.
Some players use illumination and lasers to make tracking their BBs easier, which can be effective in close-quarters environments and it does admittedly look very cool when you’re firing a stream of white downrange.
Again this has the effect of making you a target just like tracer fire, so be aware of this before deciding to go down that route.