A memory opening or a line trench is formed through an alternating stack of insulating layers and sacrificial material layers. A memory opening fill structure or a memory stack assembly is formed, which includes a vertical stack of discrete intermediate metallic electrodes formed on sidewalls of the sacrificial material layers, a gate dielectric layer, and a vertical semiconductor channel. Backside recesses are formed by removing the sacrificial material layers selective to the insulating layers, and a combination of a ferroelectric dielectric layer and an electrically conductive layer within each of the backside recesses. The electrically conductive layer is laterally spaced from a respective one of the discrete intermediate metallic electrodes by the ferroelectric dielectric layer. Ferroelectric-metal-insulator memory elements are formed around the vertical semiconductor channel.