It all depends on what you'd like to do.
If you want to keep the fish, you'll have to remove them.
Idk what else is in the tank, but I'm assuming you have multiple other fish since I see a firemouth and another cichlid in the pictures. It's likely the fry won't make it unless the parents have the take to themselves.
The result is likely going to be whatever gene is dominant. I'm assuming all the fry would be green severum.
I had a pink convict female and a male black convict. 100% of all fry were black convict......im not sure if that would apply to severum, but Id say that logic works for them as well.