Hi Srinivas Kalakonda (T)
Thanks for reaching out to the Microsoft Q & A Forum.
Please follow this article on how to upgrade MDS from SQL Server 2012 to SQL Server 2022
https://learn.microsoft.com/en-us/sql/database-engine/install-windows/upgrade-master-data-services?view=sql-server-ver17
Also make a note
This issue might also occur if you didn't stop and restart the MDS Application Pool in IIS when upgrading the MDS database schema. Restart the MDS Application Pool to correct the issue.
I hope this information helps. Please do let us know if you have any further queries.
Thank you