there are many reasons for loss of colour, the main one is
neon tetra disease (NTD) which is incurable and highly infectious,
so the fish should be issolate asap, just in case.
My neons lose their colour at night when it gets dark. It's due to stress. When i first got neons, a lot of them died off in the first week, and just before they did they lost all of their colour and just hovered at the bottom of the tank.