problems result nested bbcode colors

I worked this period on bbcode and encountered a problem (nested similar codes)

this is the code 01 :

function FFF999_BBcode($content) 
{
    $search = array (
    '/(\[color=)(.*?)(\])(.*?)(\[\/color\])/'
    );
    
    $replace = array (                   
    '<span style="color: $2">$4</span>'
    );
    return preg_replace($search, $replace, $content);
}

this is the input:

[color=red][color=blue]test test test[/color][/color]

this is the result 01 :

<span style="color: red"><a href="page?q=color=blue">color=blue</a>test test test</span><a href="page?q=/color">/color</a><br />

result code 01

=====================================

Then I modified the code to this

this is the code 02 :

function FFF999_BBcode($content) 
{
    $search = array (
    '/(\[color=)(.*?)(\])/',
    '/(\/color\])/',
    );
    
    $replace = array (                   
    '<span style="color: $2">',
    '</span>',
    );
    return preg_replace($search, $replace, $content);
}

this is the result 02:

<span style="color: red"><span style="color: blue">test test test[</span>[</span><br />

result code 02

=====================================

Both codes have implementation problems.

But what is the best of them programmatically to start modifying it and find a complete solution to the result?