We noticed that it works with the first link from the CSV, but we encounter the issue with the other emails. We compared them, and it’s the same “passwordhash” in the links. Could that be the reason why only the first one works?
UM Support Forum issue
https://wordpress.org/support/topic/ultimate-member-set-password-error-updatedinvalidkey/
UM Support Forum issue
https://wordpress.org/support/topic/ultimate-member-set-password-error-updatedinvalidkey/