And be aware that you can only add a color "Tint" using the color option in Gradients and Brushes of Lightroom. The underlying color (blue) remains.
To fully replace a color (blue > pink) you would need to use Photoshop.
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Besides setting an overlay colour as described, other adjustments control how, and how much, underlying hue "shows through" this.
E.g. the hues of a sky can be skewed warmer / cooler (WB Temp) and also, pinker / greener (WB Tint). And you can dial up or down their starting saturation too. So if you wanted to turn a strongly blue sky into pink (say) you could apply a pink overlay colour with a gradient, and then use the other controls within the same gradient to dial down the blueness of that blue, and hence reduce how much it competes with that pink overlay.
Adjustments can be doubled, tripled etc (duplicated in place) if the strength of effect achieved by a single instance is not enough. But just a single instance can make a dramatic change:
IMO this particular colour overlay feature is more about 'symbolic' colourising, than it is about simulating 'real' colour. It's an obvious pictorial effect, IOW. But the other local adjustments are just as powerful as any Photoshop technique so long as the intention is to adjust rather than to alter.
For instances of mixed lighting for example, using the WB Temp and Tint adjustments locally will give a more natural and proportional look, and with less need for precision in the mask, than you could ever get by painting on a yellow overlay or a blue overlay. Or in my experience, than you could easily achieve with Curves adjustment layers in Photoshop for example.
"So if you wanted to turn a strongly blue sky into pink (say) you could apply a pink overlay colour with a gradient, and then use the other controls within the same gradient to dial down the blueness of that blue, and hence reduce how much it competes with that pink overlay."
Yep, and if you take Saturation all the way down to -100 on the masked object, you are blending the new color to grey and you can control the blend by using the tonal controls to adjust the tones of the grey.
It is necessary to distinguish the kind of Lightroom you are using (and people still keep getting caught out by this here).
This is the forum for Lightroom CC Classic (formerly Photoshop Lightroom), the desktop based program and that was the basis of the responses. I believe your screenshot comes from the new cloud based app "Lightroom CC" - of which many here have no experience - or from the mobile app possibly.
There are separate forums for the two main products: see here https://forums.adobe.com/community/lightroom
They have different feature sets, within different interfaces. So unfortunately the advice given in this thread may not apply, except possibly in principle, and possibly only in the future after more functions have been added to Lightroom CC
I've Moved your question over to the correct forum.