That largely depends on the colleague, and whether we're friends.
Ironically, I use the terms "retard" as a verb, and "retarded" as an adjective at work frequently; they're quite useful in regards to engineering and manufacturing processes. Not quite as versatile as the word "fuck," but that's another story.
I use the words ‘retard’ and ‘retarded’ all the time. I wasn’t judging, don’t worry. I’d never say them to somebody who was actually handicapped but I use them as insults to people all the time.
For a long time, the terms retard, idiot, moron, imbecile... have not been used in medicine for a certain health condition, now they are exclusively insults.
Fortunately, there is a solid repertoire of insults in my native language, so it is easy to avoid such critical words in a verbal conversation.
I’m lucky I’m retired because if I was still in an office these days, with how woke and inclusive the world has become I would definitely get fired.
With your 'retired' in this discussion, you reminded me of this:
https://www.youtube.com/watch?v=TdMA0I51qV4 