Boron and oxygen-doped Cr–Al–Ti–N coatings were deposited by closed field unbalanced magnetron sputtering (CFUBMS) of TiB target manufactured by self-propagating high-temperature synthesis, and Ti, Cr, and Al targets. To evaluate the influence of doping elements, as-deposited coatings were studied by glow discharge optical emission spectroscopy (GDOES), SEM, XRD, and optical profilometry. Mechanical properties were measured by nanoindentation and tribological, abrasive and electrochemical testing. The introduction of boron suppresses columnar growth and leads to structural refinement and a decrease of coating’s surface roughness. The addition of 2.3 at.% boron results in the highest mechanical properties: hardness H = 15 GPa, stable friction coefficient f = 0.65, and specific wear Vw = 7.5 × 10−6 mm3N−1m−1. To make the coating more visually appealing, oxygen was introduced in the chamber near the end of the deposition cycle. Upper Cr–Al–Ti–B–O–N layers were studied in terms of their composition and coloration, and the developed two-layer decorative coatings were deposited on cast metallic art pieces.