There are many ways to do this, and it's mostly dependent on the contents of the clip, the size/location of the text and your personal style.

You can easily pick a color board from the Media Room's drop-down list and size and place it on the track below ("on top of") the main clip as desired. You can also use any number of FX, like Blur and New Blue Pixelator* or multiple copies of BorisFX Image Restoration/BCC Remover* (*if installed) directly over the unwanted text.

You can also simply crop the text section out and leave a related clip or color board showing from behind, or use a mask and overlay a similar clip on top of the text.

Each approach has pros & cons. Some are very quick and easy while others will take time to put in play and keep synchronized. Only you can decide how much effort is worth putting in to get the desired results, but hopefully these suggestions will give you some usable ideas.

Many thanks.

One of these will be fine.

oz