diff --git a/src/wp-includes/rest-api/fields/class-wp-rest-meta-fields.php b/src/wp-includes/rest-api/fields/class-wp-rest-meta-fields.php
index 60c3c3ab24..7b46905a7a 100644
--- a/src/wp-includes/rest-api/fields/class-wp-rest-meta-fields.php
+++ b/src/wp-includes/rest-api/fields/class-wp-rest-meta-fields.php
@@ -141,6 +141,7 @@ abstract class WP_REST_Meta_Fields {
 	 */
 	public function update_value( $meta, $object_id ) {
 		$fields = $this->get_registered_fields();
+		$error  = new WP_Error();
 
 		foreach ( $fields as $meta_key => $args ) {
 			$name = $args['name'];
@@ -163,35 +164,38 @@ abstract class WP_REST_Meta_Fields {
 					$current = get_metadata( $this->get_meta_type(), $object_id, $meta_key, true );
 
 					if ( is_wp_error( rest_validate_value_from_schema( $current, $args['schema'] ) ) ) {
-						return new WP_Error(
+						$error->add(
 							'rest_invalid_stored_value',
 							/* translators: %s: Custom field key. */
 							sprintf( __( 'The %s property has an invalid stored value, and cannot be updated to null.' ), $name ),
 							array( 'status' => 500 )
 						);
+						continue;
 					}
 				}
 
 				$result = $this->delete_meta_value( $object_id, $meta_key, $name );
 				if ( is_wp_error( $result ) ) {
-					return $result;
+					$error->merge_from( $result );
 				}
 				continue;
 			}
 
 			if ( ! $args['single'] && is_array( $value ) && count( array_filter( $value, 'is_null' ) ) ) {
-				return new WP_Error(
+				$error->add(
 					'rest_invalid_stored_value',
 					/* translators: %s: Custom field key. */
 					sprintf( __( 'The %s property has an invalid stored value, and cannot be updated to null.' ), $name ),
 					array( 'status' => 500 )
 				);
+				continue;
 			}
 
 			$is_valid = rest_validate_value_from_schema( $value, $args['schema'], 'meta.' . $name );
 			if ( is_wp_error( $is_valid ) ) {
 				$is_valid->add_data( array( 'status' => 400 ) );
-				return $is_valid;
+				$error->merge_from( $is_valid );
+				continue;
 			}
 
 			$value = rest_sanitize_value_from_schema( $value, $args['schema'] );
@@ -203,10 +207,15 @@ abstract class WP_REST_Meta_Fields {
 			}
 
 			if ( is_wp_error( $result ) ) {
-				return $result;
+				$error->merge_from( $result );
+				continue;
 			}
 		}
 
+		if ( $error->has_errors() ) {
+			return $error;
+		}
+
 		return null;
 	}
 
diff --git a/tests/phpunit/tests/rest-api/rest-post-meta-fields.php b/tests/phpunit/tests/rest-api/rest-post-meta-fields.php
index dcf39f59c9..1418db19db 100644
--- a/tests/phpunit/tests/rest-api/rest-post-meta-fields.php
+++ b/tests/phpunit/tests/rest-api/rest-post-meta-fields.php
@@ -3095,6 +3095,52 @@ class WP_Test_REST_Post_Meta_Fields extends WP_Test_REST_TestCase {
 		$this->assertSame( 'Goodnight Moon', $schema['default'] );
 	}
 
+	/**
+	 * @ticket 48823
+	 */
+	public function test_multiple_errors_are_returned_at_once() {
+		$this->grant_write_permission();
+		register_post_meta(
+			'post',
+			'error_1',
+			array(
+				'single'       => true,
+				'show_in_rest' => array(
+					'schema' => array(
+						'enum' => array( 'a', 'b' ),
+					),
+				),
+			)
+		);
+		register_post_meta(
+			'post',
+			'error_2',
+			array(
+				'single'       => true,
+				'show_in_rest' => array(
+					'schema' => array(
+						'minLength' => 1,
+					),
+				),
+			)
+		);
+
+		$request = new WP_REST_Request( 'PUT', '/wp/v2/posts/' . self::$post_id );
+		$request->set_body_params(
+			array(
+				'meta' => array(
+					'error_1' => 'c',
+					'error_2' => '',
+				),
+			)
+		);
+		$response = rest_do_request( $request );
+		$error    = $response->as_error();
+		$this->assertWPError( $error );
+		$this->assertContains( 'meta.error_1 is not one of a and b.', $error->get_error_messages() );
+		$this->assertContains( 'meta.error_2 must be at least 1 character long.', $error->get_error_messages() );
+	}
+
 	/**
 	 * Internal function used to disable an insert query which
 	 * will trigger a wpdb error for testing purposes.