I think that's extremely unlikely and can't seem to reproduce those results.
The most likely scenario is that whichever change logs changed the state from valid to rejected has since been removed. We keep the change logs for 60 days but the user has been registered longer than that.
The two change logs with the blue left border are "protected" change logs, which we keep as they have significance and are relevant to GDPR.
A user will only go into the Rejected state if an admin manually sets them to that, or if they end up in the Approval queue. They may end up in the Approval queue if when they registered they bumped into some spam settings like Stop Forum Spam, and the moderator Rejected them rather than approving them.