IDE 2.0.3 - Customize cursor color

I don't know whether it is possible to modify the theme in your Arduino IDE installation.

You can definitely edit the source code and then run or build Arduino IDE from that source code. The theme is defined in this file:

https://github.com/arduino/arduino-ide/blob/main/arduino-ide-extension/src/browser/data/dark.color-theme.json

Instructions for running Arduino IDE from the source code:

https://github.com/arduino/arduino-ide/blob/main/docs/development.md#build-from-source

You might also be interested in the instructions for installing 3rd party themes or making your own custom themes that were shared by a forum member here: