How to fix ModuleNotFoundError: No module named 'termcolor'

ModuleNotFoundError: No module named 'termcolor'
Recommended: Install via pip into your active environment.
python -m pip install termcolor

Verification

Command
python -c "import termcolor; print(termcolor.__version__)"
Expected output
Success! termcolor version x.y.z (e.g., 2.4.0)