Why does the welcome email sent to users have a blank password field?

Due to changes to WordPress, passwords will no longer be sent in emails for security reasons. If you reset the email tab on Ultimate Member settings by clicking the "Reset Section" on Admin > Ultimate Member > Settings > Email,  it should update the email template to remove password.

We recommend that you use the default WordPress method Admin > Users > Add New  to create account for new users so  they will receive a link to set a password in the email.