Just my own perspective, but I don't think it's really accurate to say that latinos of mixed descent always stop being settlers. Some are indigenous as you say, but I think most of us still count as settlers. We definitely aren't indigenous (except in the context of the colonial relationship between our countries and the imperial core) in the strict political sense, and we live in (predominantly) unceded territory. I don't know if there's a single country in LatAm that isn't a settler colony as a result of these facts, I'd probably hazard to say no but there's a few I'm pretty ignorant about.