Sorry for the late reply and thanks for sharing additional info. Since there's no issue with your Microsoft account, the error might be caused by multiple incorrect password entry and it usually gets resolved after waiting for a couple of hours before retrying but if its still the same after a day, I suggest following the steps in the link below to help you troubleshoot.
https://appuals.com/the-referenced-account-is-c...
Feel free to share how it went.
Kind regards.
*****Note: This is a non-Microsoft website that would provide accurate and safe information. Watch out for ads on the site which are frequently classified as a PUP (Potentially Unwanted Products). There is no need to buy paid products to fix your computers as they do more harm than good sometimes.*****