There are two places to control the color of an image once you send it to the printer- once in Photoshop’s Print dialog, and again in the printer driver. Here’s a rundown on the process.
In most cases for color printing you want to allow Photoshop to color-manage the printer, and turn off all controls in the printer’s system drivers. One of the few exceptions is when you want to use the Advance B/W driver features of the Epson printers… in those cases you turn the color management over to Epson, and take it away from Photoshop.
Take a look at these videos- the first is showing how to print color, and the second is showing how to use the Advanced B/W driver.
I should note that the color printing process shown here works for many printers, not just Epson. The Photoshop dialog remains the same, in each driver there is some place- you may have to dig around- that you need to turn the driver controls off. It’s very common to see a “Color” tab in the driver, and a selection for “Application Color Management” and “Printer Color Management”. You need to select “Application..” if you see that- indicating the application (Photoshop in this case) will handle color.
Now for a look at Advanced B/W:
