Craft 5 I have Verify email addresses set to 'yes' and public registration.
Front end form used for reg is created as described here https://www.craftcms.com/knowledge-base/front-end-user-accounts
When registering the user is in a pending state and receives an account activation. They can then verify and become active in their user status.
I may be pedantic or confused but is activating your account intended to be verifying your email? I was expecting an extra stage of verifying email first then activating based on your verification.