What is the expiration time of Email verification link? When we use the "Require email verification" in account settings for creating new accounts, does the link have an expiration time or it will last forever?

If if never expires, is is possible to add an an expiration time, preferably using a contrib module?
The first time login link has no expiration time. Only password reset links have expiration time, which can be get or set using the system variable user_password_reset_timeout which has a default value of 86400 (24 hours).