Create a GIF with fading colors in Photoshop

1- Make sure to work with a smart object
2- Open the timeline (window > timeline)
3- Click the "Create frame animation" button
4- Add new frame to the timeline
5- Duplicate current layer
6- Add/modify hue or saturation of the duplicate object
7- Make sure to change animation speed to 0.05 sec
8- Make sure both frame contents are different
10- Select both frames and click the tween button
11- In "Frames to add" make sure to add "15" (this will depend on the animation speed that u want)
12- Once you're satisfied with the result, you can export the GIF by going to: File > Export as Legacy