Using the Schwarzschild coordinates the coordinate speed of light can be practically read off the metric since for any beam of light ds = 0.
Thus we have $$\left(1 - \frac{r_s}{r} \right)^2 c^2 = \left( \frac{dr}{dt} \right)^2 + \left(1 - \frac{r_s}{r} \right) \left(r \frac{d \theta}{d t} \right)^2 + \left(1 - \frac{r_s}{r} \right) \left( r \sin \theta \frac{d \phi}{dt} \right)^2$$
Apparently I went too fast for some.
Starting with
$$ds = 0 \\ ds = - \left(1 - \frac{r_s}{r} \right) c^2 (dt)^2 + \left(1 - \frac{r_s}{r} \right)^{-1} (dr)^2 + r^2 \left( ( d\theta )^2 + \sin^2 \theta ( d \phi)^2 \right)$$,
I substituted in for ds, added $$\left(1 - \frac{r_s}{r} \right) c^2 (dt)^2$$ to both sides, multiplied both sides by $$ 1 - \frac{r_s}{r} $$, divided both sides by $$(dt)^2$$, and expanded the last term to get:
$$\left(1 - \frac{r_s}{r} \right)^2 c^2 = (dr)^2 / (dt)^2 + \left(1 - \frac{r_s}{r} \right) r^2 ( d\theta )^2 / (dt)^2 + \left(1 - \frac{r_s}{r} \right) r^2 ( \sin \theta )^2 ( d \phi)^2 / (dt)^2 $$
Then some gentle application of the exponent laws gives:
$$\left(1 - \frac{r_s}{r} \right)^2 c^2 = \left( \frac{dr}{dt} \right)^2 + \left(1 - \frac{r_s}{r} \right) \left(r \frac{d \theta}{d t} \right)^2 + \left(1 - \frac{r_s}{r} \right) \left( r \sin \theta \frac{d \phi}{dt} \right)^2$$
So for radial light we see that the coordinate speed is a function of position $$\left(1 - \frac{r_s}{r} \right) c$$ and for orthogonal light (dr =0) we see that the coordinate speed is $$\sqrt{1 - \frac{r_s}{r} } c$$ where $$r_s = \frac{2 GM}{c^2}$$.
You sure about the (dr=0) part? You are calculating the radial coordinate speed of light, so what is with the "orthogonal light" bit?
You sure you didn't really want $$d\theta=d\phi=0$$?
$$d\theta=d\phi=0$$ leads to the solution where the light movement is in a pure radial direction, in which case the coordinate speed is $$\left(1 - \frac{r_s}{r} \right) c$$.
$$dr = 0$$, on the other hand, leads to a solution where the light movement is in a direction orthogonal to the radial direction, and the coordinate speed is $$\sqrt{1 - \frac{r_s}{r} } c$$.
If I wished to emphasize the spherical symmetry of this, I would write $$(d\Omega)^2 = (d \theta)^2 + \sin^2 \theta ( d \phi)^2$$ and write the expression obtained by setting ds = 0 as:
$$\left(1 - \frac{r_s}{r} \right)^2 c^2 = \left( \frac{dr}{dt} \right)^2 + \left(1 - \frac{r_s}{r} \right) \left(r \frac{d \Omega}{d t} \right)^2$$
To reduce the number of unknowns, I can assume $$d \Omega = 0$$ and the expression simplifies as follows:
$$\left(1 - \frac{r_s}{r} \right)^2 c^2 = \left( \frac{dr}{dt} \right)^2
\frac{dr}{dt} = \pm \left(1 - \frac{r_s}{r} \right) c
\left| \frac{dr}{dt} \right| = \left(1 - \frac{r_s}{r} \right) c $$
which is an expression for the radial coordinate speed of light for $$r \geq r_s$$.
Alternately, if I chose to assume $$d r = 0$$ by consequence any motion would be in a direction perpendicular to the radial direction, and the expression would simplify this way:
$$\left(1 - \frac{r_s}{r} \right)^2 c^2 = \left(1 - \frac{r_s}{r} \right) \left(r \frac{d \Omega}{d t} \right)^2
\left(1 - \frac{r_s}{r} \right) c^2 = \left(r \frac{d \Omega}{d t} \right)^2
r \frac{d \Omega}{d t} = \pm \sqrt{1 - \frac{r_s}{r} } c
\left| r \frac{d \Omega}{d t} \right| = \sqrt{1 - \frac{r_s}{r} } c$$
which is an expression for the coordinate speed of light for $$r \geq r_s$$ in a direction orthogonal to the radial direction.
Because $$\left(1 - \frac{r_s}{r} \right) c \neq \sqrt{1 - \frac{r_s}{r} } c$$ (for ( $$r \gt r_s$$ ), the Schwarzschild coordinates are anisotropic with respect to the coordinate speed of light. This is a consequence of the choice made to preserve the formula for the circumference of a sphere of radius r.
(This is simple algebra, far simpler than solving for the geodesics of light -- what are straight lines in the geometry need not be straight lines in the coordinate space. And even that is far simpler than solving for the geometry of space-time starting with a distribution of matter.)
I explained all these to Undefined long ago, replete with the $$c_{rcoord}=c\sqrt{1-\frac{r_s}{r}}$$ formula derived from the Schwarzschild solution.
Showing is better than telling. What post, please?