I’m also experiencing this issue.
However the Captcha plugin is another plugin (Google recapthca) the new user approve plugin should edit something so the Captcha code injection will work.
I have tried multiple captcha plugin’s, but unfortunately all with the same result.
There are more users experiencing this problem.
https://wordpress.org/support/topic/captcha-not-stopping-spammers-1/#post-4700596
I would really should appreciate it if this problem can be fixed (if possible).
Thank you in advance!