In the reaction $\text{CuO}+{\text{H}}_{\text{2}}\to \text{Cu}+{\text{H}}_{\text{2}}\text{O}$, the correct statement is

In a given chemical equation, CuO undergoes reduction ($\text{Cu\hspace{0.17em}from\hspace{0.17em}+2\hspace{0.17em}to 0}$).

On the other hand the oxidation state of hydrogen changes from $\text{0\hspace{0.17em}\hspace{0.17em}to +1}$.

Therefore, the species CuO acts as oxidizing agent.

Note: In the electrochemical series reactivity order Cu is placed bottom of the hydrogen. Hence, H can displace Cu very easily.