Glance Card | Change Icon Color based on state

You can do something similar using a custom button card. Lovelace: Button card

      - type: "custom:button-card"
        entity: alarm_control_panel.security_system_partition_1
        icon: mdi:alarm-bell
        color_type: icon
        size: 20%
        name: Alarm
        style:
          - font-size: 12px
          - font-weight: bold
        action: more_info
        show_state: true
        state:
          - value: 'armed_home'
            color: rgb(255, 5, 5)
          - value: 'armed_away'
            color: rgb(255, 5, 5)
          - value: 'disarmed'    
            color: rgb(5, 147, 255)
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