As mentioned in the comments (and the error message), you cannot pass the result of an expression to isset.
You can use multiple isset calls, or reverse the logic of your if/else block and pass multiple parameters to isset, which i think is the cleanest solution:
//true if both are set
if(isset($size, $color)) {
    $style = 'font-size : ' . $size . ';color:' . $color;
}else{
    $style = '';
}
You can clean this up a little further by setting the default value first, thus avoiding the need for an else section:
$style = '';
if(isset($size, $color)) {
    $style = 'font-size : ' . $size . ';color:' . $color;
}
You could even use a ternary, though some people find them harder to read:
$style = isset($size, $color) ? 'font-size : ' . $size . ';color:' . $color : '';