"Darkening of Tristram" paragon portraits on consoles

The Diablo 20th anniversary event, "Darkening of Tristram" added two new paragon portrait frames that are not tied to one's paragon level. I earned one of them ("Classic Angel"), and it appears in my inventory, as seen in the screenshot below:

When I press the button to equip the item ('X' in this case), however, nothing seems to happen. My paragon portrait stays the same.

I've looked at the answer to this question, but I can't find the cosmetics screen anywhere on the console interface. Is there any way to equip these special paragon portraits on the console editions of Diablo III?

This is a known issue. You will be able to change your paragon portrait when the 2017 update arrives (the one that will also bring the necromancer and the season and leaderboards ladder). See this forum post, made by a Blizzard community manager, that discusses the subject.