diff --git a/pypika/dialects.py b/pypika/dialects.py
index 6e151d68..d7c75132 100644
--- a/pypika/dialects.py
+++ b/pypika/dialects.py
@@ -543,10 +543,12 @@ def _on_conflict_action_sql(self, **kwargs: Any) -> str:
             updates = []
             for field, value in self._on_conflict_do_updates:
                 if value:
+                    value_get_sql_kwargs = kwargs.copy()
+                    value_get_sql_kwargs['with_namespace'] = True
                     updates.append(
                         "{field}={value}".format(
                             field=field.get_sql(**kwargs),
-                            value=value.get_sql(with_namespace=True, **kwargs),
+                            value=value.get_sql(**value_get_sql_kwargs),
                         )
                     )
                 else:
@@ -559,8 +561,10 @@ def _on_conflict_action_sql(self, **kwargs: Any) -> str:
             action_sql = " DO UPDATE SET {updates}".format(updates=",".join(updates))
 
             if self._on_conflict_do_update_wheres:
+                wheres_get_sql_kwargs = kwargs.copy()
+                wheres_get_sql_kwargs['with_namespace'] = True
                 action_sql += " WHERE {where}".format(
-                    where=self._on_conflict_do_update_wheres.get_sql(subquery=True, with_namespace=True, **kwargs)
+                    where=self._on_conflict_do_update_wheres.get_sql(subquery=True, **wheres_get_sql_kwargs)
                 )
             return action_sql
 
diff --git a/pypika/tests/test_inserts.py b/pypika/tests/test_inserts.py
index f86efd7a..536edddf 100644
--- a/pypika/tests/test_inserts.py
+++ b/pypika/tests/test_inserts.py
@@ -399,6 +399,41 @@ def test_where_and_on_conflict_where(self):
             str(qs),
         )
 
+    def test_with_statement_and_on_conflict_do_update(self):
+        sub_query = (
+            PostgreSQLQuery.into(self.table_abc)
+            .insert(1, "m")
+            .on_conflict("id")
+            .do_update("name", "m")
+        )
+
+        test_query = Query.with_(sub_query, "an_alias").from_(AliasedQuery("an_alias")).select("*")
+
+        self.assertEqual(
+            'WITH an_alias AS '
+            '(INSERT INTO "abc" VALUES (1,\'m\') ON CONFLICT ("id") DO UPDATE SET "name"=\'m\') '
+            'SELECT * FROM an_alias',
+            str(test_query),
+        )
+
+    def test_with_statement_and_on_conflict_do_update_where(self):
+        sub_query = (
+            PostgreSQLQuery.into(self.table_abc)
+            .insert(1, "m")
+            .on_conflict("id")
+            .do_update("name", "m")
+            .where(self.table_abc.id.eq(0))
+        )
+
+        test_query = Query.with_(sub_query, "an_alias").from_(AliasedQuery("an_alias")).select("*")
+
+        self.assertEqual(
+            'WITH an_alias AS '
+            '(INSERT INTO "abc" VALUES (1,\'m\') ON CONFLICT ("id") DO UPDATE SET "name"=\'m\' WHERE "abc"."id"=0) '
+            'SELECT * FROM an_alias',
+            str(test_query),
+        )
+
     def test_on_conflict_do_nothing_where(self):
         with self.assertRaises(QueryException):
             (