Styling variables in Templates

I created a template and used it for headers and footers when generating DOCX.

I am passing html string to template variable for example "<a style='color:red'>Hello</a>". But, when I open the generated document, the exact string including the html tags with no styling in appended in place of the variable.

Is there a way to apply the custom styling to the variables from incoming custom strings in templates rather than explicitly adding colors or fonts to the variable itself in template?

No, this isn't possible a template variable is supposed to be a plain value.