After turning on 2FA and setting app password, the mails were getting triggered (For Forgot password and Email Template).
The steps were as follows:
→ Login in to your Gmail account (registered in Mendix). Go to Manage my Accounts
→ Then go to Security turn on 2 Factor Authentication and set app password (which is just below) it. In App Password select Email and Windows Computer from drop down list and click on Generate. We get a 16 digit code which we need to paste in SMTP settings password field.
→ Save it and Test
If you know more about this you can check on following link
Hope this helps you.
Google have blocked the third party to use their SMTP server from May 30 2022. So, you can try with Outlook SMTP access
Office 365 SMTP settings