The 'person of color' moniker was introduced partly because in the US the adverb 'colored' tended to be used predominantly (if not exclusively) for black people. 'Person of color' was intended to be more inclusive.
From what I understand, how inclusive that term is depends on who you ask and what their goal is in the discourse, but usually it includes all non-white people, where 'white' is used to imply someone of pure 'white' descent (whatever that means). So someone with a 'person of color' in his ancestry (not sure if there is a limit in the number of generations one should include) is a 'person of color' themself.
So Asian women tend to be considered 'women of color', unless that doesn't suit the narrative of the person employing the term.
From what I understand, how inclusive that term is depends on who you ask and what their goal is in the discourse, but usually it includes all non-white people, where 'white' is used to imply someone of pure 'white' descent (whatever that means). So someone with a 'person of color' in his ancestry (not sure if there is a limit in the number of generations one should include) is a 'person of color' themself.
So Asian women tend to be considered 'women of color', unless that doesn't suit the narrative of the person employing the term.