I recently set our iPad endpoints to delay OS software for 90 days. When I manually forced a software update on two iPads, it proceeded to download 12.3. Currently 12.4 is what downloads if you do not delay the update.
Both iPads are running iOS 12. Every time I attempted to install 12.3 update, I would receive an "Unable to Verify Update" on either tablet. No matter how or where I logged into wifi, I got the same error.
It wasn't until I unchecked "Delay OS software updates" on one of the iPads that it allowed it to download and install without issue though it was 12.4.
From what I can tell, Apple doesn't provide the ability to select OS versions that are older than what is currently being deployed by the company. So in this case, does Apple not allow verification on any other OS version other than what is currently available? If that is the case, this delay option is pointless if another version is released in that time frame you specify in the restrictions option.