Yes—dedicated color meters exist, and they’re designed to measure light color for tasks like choosing correction gels. Examples mentioned by the community include Sekonic and older Minolta color meters. However, they tend to be expensive and are usually only worth it for truly color-critical work.

A normal light meter measures light intensity/exposure, not color.

For most photographers, a practical low-cost method is to use your digital camera as a reference: set white balance to Flash, photograph a neutral target in the ambient light only, then review the image and compare it to the target seen through different gels until the tones match closely. Afterward, set your camera white balance for the ambient light when shooting, even if you shoot RAW.

In many real-world situations, you don’t need perfect precision—small color differences between ambient light and flash often aren’t noticeable enough to justify a dedicated color meter.