If both chains have equal work, then there are either two tips, or no tips. Picking one would mean you're introducing subjectivity.
Fully validated in that case. If there are any competing blocks at the same height, then Bitcoin Core doesn't immediately validate it until the competing block becomes the new longest chain or isn't validated at all if it becomes orphaned.
But, why? It can very well be the other chain, the correct one, because miners mine on top of the other tip.
Traditionally, the reference implementation is used for mining as well. Miners are thus mining directly ontop of the best tip and it's better to start work on a chaintip that is better propagated, in the view of the individual node. Since each node has no way of knowing what is the block that is seen (and currently worked on) by the majority, it's better to prefer the block that is seen first and not having to swap over when another block at the same height appears.
Note: I don't think this is the actual reason, but the actual reason should be just for the sake of simplicity. This was a conclusion that I made after some discussion and research previously.