Hi, Both the approaches are correct. However, first one is more helpful to registered users who want to reset their password. Sometimes, they forget the email id they registered their account with and the "Sorry" message helps them think harder and try alternative email addresses.
In the latter, they will wait for the code for a minute or two and then realise they entered an in-correct email id.
In the latter, they will wait for the code for a minute or two and then realise they entered an in-correct email id.