Setup the printer on the server, set the default settings you would like, share it, and then install it via a logon script. From my experience, as long as you are installing a network printer and not a local printer printing to a UNC path, it will inherit the permissions/settings that you’ve setup on the server.
If you manually delete it and manually install it by browsing to \servername and double clicking on the printer, does it have the server settings?
If you want to setup Black&White and Color Group/Users
Install the driver twice, once with BW as default and another with Color as default.
Only the allowed persons receive the color driver and the rest BW driver. you can use GPO for this on server
You also need to setup security because if the BW users would find the oter printer driver (by \printerserver ) they would be able to add it
Please read my following Printer login script blog for scripts.