can we able to convert float value of the Color pixel (U,V) to (R,G,B) format(255,120,128) format and display in label the color
Yes, you can display the values in a label.
You can convert a normalized float value to an integer in the range [0, 255] as follows (untested C#):
int result = (int)(value * 255f);
You can then construct a string representing the color as follows:
string text = string.Format("{0}, {1}, {2}", result_r, result_g, result_b);
That isn't the only way to do it, but it will work.