OK I went ahead, and created my own crosshair.
However I quickly realised what's the source of the whole issue.... UT uses the black color for transparency - Meaning no black crosshairs and therefore any other color on white background is barely visible.
As a workaround for this, I've created a crosshair that is a black square with a white dot in the middle. But it required to have the crosshair transparency off (otherwise it becomes just a white dot).
Is there a mutate ace command to turn off the crosshair transparency?