Seams to be working fine in my tests. Below is the default email sent when creating them in CB > User Management with a password supplied.
Code:
Welcome newuserpsw,
Your application has been approved by our administration team.
Your account with the following details:
Email: newuserpsw@cb.invalid
Name: newuserpsw
Username: newuserpsw
Password: newuserpsw
has been activated.
We welcome you to our online community and trust that together
we will grow.
Enjoy the experience!
Kind Regards,
Website Administration Team
NOTE: This email was automatically generated from Joomla 5 CB (http://localhost/).
Please create a fake test user and supply the email that was sent to them. Be sure to remove your domain and site name from the NOTE footer and delete the user once email contents is provided.