The 2018 Chevrolet Trailering guide up through 2018 apparently indicates a 1,000 lb tongue weight max. Then after that they show 770 lbs. Your hitch should have a sticker that lists a capacity that may or may not match that. I typically run 750 lbs (measured with WD deactivated) with a 5,000 lb trailer and use weight distribution. As others have mentioned your rear axle weight and other capacities need to be addressed.
From 2018 Chevrolet Trailering Guide:
NOTES ON COLORADO, TAHOE AND SUBURBAN Trailer weight
ratings are calculated assuming a base vehicle, except for
any option(s) necessary to achieve the rating, plus driver.
The weight of other optional equipment, passengers and
cargo will reduce the trailer weight your vehicle can tow.
See your Chevrolet dealer for additional details. Trailer tongue
weight should be 10% to 15% of total loaded trailer weight
(up to 1,000 lbs.). Addition of trailer tongue weight must not
cause vehicle weights to exceed Rear Gross Axle Weight
Rating (RGAWR) or Gross Vehicle Weight Rating (GVWR).
From 2022 Chevrolet Trailering Guide:
Notes on Colorado Trailer tongue weight should be 10% to 15% of total loaded trailer
weight (up to 770 lbs.). Addition of trailer tongue weight must not cause vehicle
weights to exceed Rear Gross Axle Weight Rating (RGAWR) or Gross Vehicle Weight
Rating (GVWR)
From 2018 Chevrolet Trailering Guide:
NOTES ON COLORADO, TAHOE AND SUBURBAN Trailer weight
ratings are calculated assuming a base vehicle, except for
any option(s) necessary to achieve the rating, plus driver.
The weight of other optional equipment, passengers and
cargo will reduce the trailer weight your vehicle can tow.
See your Chevrolet dealer for additional details. Trailer tongue
weight should be 10% to 15% of total loaded trailer weight
(up to 1,000 lbs.). Addition of trailer tongue weight must not
cause vehicle weights to exceed Rear Gross Axle Weight
Rating (RGAWR) or Gross Vehicle Weight Rating (GVWR).
From 2022 Chevrolet Trailering Guide:
Notes on Colorado Trailer tongue weight should be 10% to 15% of total loaded trailer
weight (up to 770 lbs.). Addition of trailer tongue weight must not cause vehicle
weights to exceed Rear Gross Axle Weight Rating (RGAWR) or Gross Vehicle Weight
Rating (GVWR)