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There's no way to change shadow color and angle in the official Android framework. The color is always black and the angle is generated automatically using view's position. Moreover, on older platforms CardView's shadow is a completly different thing than on Lollipop, so the angle won't work at all.

For colored shadows you can use a library called Carbon. See this answer: Android change Material elevation shadow color

No, the color of the shadow provided by the framework cannot be changed.

if you need colored shadows, it's possible to get them using Carbon. It's a kind-of support library for Material Design and in the most recent version, there is an option to change shadow color. There's a ton of nice designs on Behance featuring colored shadows and I thought it would be nice to have them despite lack of such feature in Android. It's important to note that colored shadows are emulated on all Android versions, on 5.0+ too.

https://github.com/ZieIony/Carbon

You can use shadow drawable xml to set CardView Shadow and its customize shadow color.

<?xml version="1.0" encoding="utf-8"?>
<layer-list xmlns:android="http://schemas.android.com/apk/res/android" >

    <!-- Drop Shadow Stack -->
    <item>
        <shape>
            <padding
                android:bottom="2dp"
                android:left="2dp"
                android:right="2dp"
                android:top="2dp" />

            <solid android:color="#00cccccc" />

            <corners android:radius="5dp" />
        </shape>
    </item>
    <item>
        <shape>
            <padding
                android:bottom="2dp"
                android:left="2dp"
                android:right="2dp"
                android:top="2dp" />

            <solid android:color="#05cccccc" />

            <corners android:radius="5dp" />
        </shape>
    </item>
    <item>
        <shape>
            <padding
                android:bottom="2dp"
                android:left="2dp"
                android:right="2dp"
                android:top="2dp" />

            <solid android:color="#0acccccc" />

            <corners android:radius="5dp" />
        </shape>
    </item>
    <item>
        <shape>
            <padding
                android:bottom="2dp"
                android:left="2dp"
                android:right="2dp"
                android:top="2dp" />

            <solid android:color="#0fcccccc" />

            <corners android:radius="5dp" />
        </shape>
    </item>
    <item>
        <shape>
            <padding
                android:bottom="2dp"
                android:left="2dp"
                android:right="2dp"
                android:top="2dp" />

            <solid android:color="#14cccccc" />

            <corners android:radius="5dp" />
        </shape>
    </item>

    <!-- Background -->
    <item>
        <shape>
            <solid android:color="#b2f7f7f7" />
            <stroke
                android:color="#681b98e6"
                android:width="1dp"/>

            <corners android:radius="5dp" />
        </shape>
    </item>

</layer-list>

app:cardElevation="55dp"