hi,
i have checked your site
the settings are correct
email template is also present and set also complete this setting
http://prntscr.com/u23lw5
The activation email is sent by the buddypress plugin.
The exact reason why your emails are not sending can be explained by your webhost only.
If you have your cpanel credentials then you can go there and go to WHM and see which email is not sent and why it is failed.
The request is in the pending, this means the buddypress tried to send the email but for some reasons it is not sent and this you can see in the WHM.
On our test setups we use WP SMTP , can you please try this plugin for emails
refer: https://wplms.io/support/knowledge-base/wplms-mail-smtp-gmail-smtp/
Please check Another type of emails such as 'WP Mail SMTP test email', 'WooCommerce order emails' and 'manual user registration via WordPress settings' are working or not??
***if you are receiving other emails and not only registration activation then
please try adding this given code in your wplms-customizer.php file in wplms customizer plugin :
add_filter( 'bp_email_use_wp_mail', '__return_true' );
let me know the results.
thanks