We propose generalized equilibria of a three-dimensional color-gradient lattice Boltzmann model for two-component two-phase flows using higher-order Hermite polynomials. Although the resulting equilibrium distribution function, which includes a sixth-order term on the velocity, is computationally cumbersome, its equilibrium central moments (CMs) are velocity-independent and have a simplified form. Numerical experiments show that our approach, as in Wen et al. [Phys. Rev. E 100, 023301 (2019)2470-004510.1103/PhysRevE.100.023301] who consider terms up to third order, improves the Galilean invariance compared to that of the conventional approach. Dynamic problems can be solved with high accuracy at a density ratio of 10; however, the accuracy is still limited to a density ratio of 1000. For lower density ratios, the generalized equilibria benefit from the CM-based multiple-relaxation-time model, especially at very high Reynolds numbers, significantly improving the numerical stability.