If date is greater than 2 years, change font colour and add “Warning”

I want to use conditional formatting to change a cell colour to red if the year is greater than 2 years. Currently cell F1 shows =YEAR(E1214) to return the year of the last cell in my spreadsheet which is currently 2027. F1 is set with white text (if it’s within 2 years, that’s fine, don’t need anything to show) but as soon as the cell is greater than 2 years I need it flagging up.

F1 currently shows 2027 and I’ve tried adding CF formula =F1<TODAY()-365*2

The result is 2027 in red font. But because it’s less than 2 years it should still be showing in white font. Does anybody know why this isn’t working?

I’d also like the adjacent cell to say “WARNING” but not sure how to do that?

Thanks