Code used in Material Property Overrides tutorial video on the Turbo Makes Games YouTube Channel - https://youtu.be/XMRSNlTYHFY

ColorChangerSystem.cs

using Unity.Entities;
using Unity.Mathematics;
using Unity.Rendering;
using Unity.Transforms;
using UnityEngine;

namespace TMG.MaterialPropertyOverrides
{
    public class ColorChangerSystem : SystemBase
    {
        protected override void OnStartRunning()
        {
            Entities.ForEach((Entity e, int entityInQueryIndex, RandomColorData randomColorData, 
                ref URPMaterialPropertyBaseColor baseColor) =>
            {
                randomColorData.Random.InitState((uint) entityInQueryIndex);
                baseColor.Value = randomColorData.Color();
            }).ScheduleParallel();
        }

        protected override void OnUpdate()
        {
            var elapsedTime = Time.ElapsedTime;

            Entities.ForEach((Entity e, ref ColorOverride matCol, in Translation translation) =>
            {
                matCol.Value = CalculateColor(elapsedTime, translation.Value);
            }).ScheduleParallel();
        }

        private static float4 CalculateColor(double elapsedTime, float3 position)
        {
            var hue = (float) ((5 * elapsedTime + position.x + (0.5f * position.y) + (0.5f * position.z)) % 50) / 50;
            var newCol = Color.HSVToRGB(hue, 1f, 1f);
            return new float4(newCol.r, newCol.g, newCol.b, newCol.a);
        }
    }
}

ColorOverride.cs

using Unity.Entities;
using Unity.Mathematics;
using Unity.Rendering;

namespace TMG.MaterialPropertyOverrides
{
    [GenerateAuthoringComponent]
    [MaterialProperty("TurboColor", MaterialPropertyFormat.Float4)]
    public struct ColorOverride : IComponentData
    {
        public float4 Value;
    }
}

RandomColorData.cs

using Unity.Entities;
using Unity.Mathematics;

namespace TMG.MaterialPropertyOverrides
{
    [GenerateAuthoringComponent]
    public struct RandomColorData : IComponentData
    {
        public Random Random;
        public float4 Min;
        public float4 Max;
        
        public float4 Color()
        {
            return Random.NextFloat4(Min, Max);
        }
    }
}