From what I understand, there are two things you want to achieve.
- Not require approval for every single post
- Only moderate posts that contain blacklisted words.
Turning off "Send all content from users with an unverified email to moderation" does not necessarily mean that a verified email address will require approval. If it is turned off, they will not be included for moderation regardless if it's verified or not. Unless the content contains blacklisted words.
You'll need to follow the steps below to achieve your intention
- Make sure to enable the Moderation app
- Add all the words you want to Blacklist
- Update > you're good to go!