Virginia vehicle license plates
forges or counterfeits any license plate
That means you can't make your own. Certainly any created plate in different colors or design will attract attention of the authorities as well.
You will need to use the license plate issued by the state.
Your confusion probably stems from trying to look at this issue from the wrong end. Instead of looking at the VA Code related to details of license plate forgeries, look earlier in the code for § 46.2-712 Requirements of license plates and decals which states that all graphic design details of the license plate is at "the discretion of the Commissioner".
Looking back further in chapter § 46.2-711. Furnishing number and design of plates; displaying on vehicles required, paragraph F states: "No vehicles shall be operated on the highways in the Commonwealth without displaying the license plates required by this chapter" and that chapter refers to "The Department shall furnish one license plate for every registered moped, motorcycle, autocycle, tractor truck, semitrailer, or trailer, and two license plates for every other registered motor vehicle" so it appears that the only valid license plate allowed in VA is explicitly one that is issued by "The Department".
Also, you missed a very important part of § 46.2-722. Altered or forged license plates or decals; use as evidence of knowledge.
"The owner of a vehicle who operates it while it displays altered or forged license plates or decals shall be presumed to have knowledge of the alteration or forgery."
Since you would know that your proposed custom license plate is not approved by the Commissioner, you would almost certainly be found guilty of violating 46.2-722 as that would take care of the "with fraudulent intent" part of the Code.