I found the issue. UM remove wpautop function hook from content in its page.
You can bypass this using following code ( I may include this code in next version of UM integration extension)

add_action( 'template_redirect', function(){
	if ( is_ultimatemember() && isset( $_GET['profiletab'] ) && 'fep-um' == $_GET['profiletab'] ) {
		add_filter( 'the_content', 'wpautop' );
	}
}, 15);

Let me know.