AIGC technology has transformed the mechanisms of content creation in the digital industry, whilst digital media has expanded the dimensions of immersive experiences rooted in China's traditional "Five Elements and Five Colours" philosophy. This paper expounds on the traditional Chinese concept of the "Five Elements and Five Colours" in relation to time and the cosmos. By analysing the fundamental differences in the generative mechanisms of human-perceived colours and AI-generated colours, this proposal suggests a strategy for the digital translation of the traditional Chinese "Five Elements and Five Colours" through the application of AIGC technology. Using the "Five Elements Universe" as a practical case study, the paper summarises a human-machine collaborative co-creation model and design process for digital colour practice, aiming to provide a practical pathway for the cultural translation and digital dissemination of the traditional Chinese "Five Elements and Five Colours".