Hmm... not every CSP has this option, so it won't work for everybody.
That aside, the CSP version I use does have the option and I tried it, but it did not work. Like I said, some different colours on steering wheel, rims and chassis, but the 'bodywork' is always white with some black/grey parts, option ticked or unticked makes no difference.
In game I get to see the colours that are meant to be (I think):
View attachment 1271855
Same skin in preview/showroom:
View attachment 1271856
I can't rule out that it may be something on my side, since e.g. I don't get to see the Mercedes star on the grille of the rss_mercer, option "use CSP for final previews render" on or off...
Imo the 'classic' way to skin is still better and will work for everyone.