On General/About section my Network Time says Skipped (reachable) and my Activation says Failed (Skipped)

It's having an issue connecting to the network. Make sure location is set correctly, DNS should be set to automatic (settings - general - network). If on wifi try ethernet. Make sure router is up to date. Reboot ATV and router.

Duplicate here: Setting date and time

Solution which worked for me:

Don't use your router.... Use your Personal Hotspot on your Phone (3G, 4G, whatever)

Complete the ATV setup via the Hotspot.

After that, you can use Ethernet or Wi Fi over your router.