Change link and open a new window for Privacy Policy in Register Form

In the Register Form, the Privacy Policy link expands the whole text which can be really long like in the sample below:

If you want to provide a better user experience design, you can change the privacy link to open a new privacy policy window. You will need to override the template via your theme/child-theme and then modify the copy to change the link and open a new window for the Privacy Policy page:


Please see this documented article regarding overriding the UM templates: