With further testing I discovered that multi-bit error interrupt (ERM_1_IRQn) is actually working for Flash errors.
I followed instructions for ECC logic check that uses UTest mode to inject ECC errors into flash. It works and interrupt is called. It proves that IRQ is configured correctly.
However it still fails to call it on RAM multi-bit errors.
Also, I have found a Application note for different ECU S32K11x that states:
...
S32K11x Error Handling: When the fault occurs, the CPU jumps to the hard fault error interrupt handler first and just after
that, the ERM interrupt flag is set. At this point, the user has to check if the ERM status register is showing a non-correctable
ECC error event. If yes, it is recommended to follow the recommended reaction (system reset).
...
So maybe it is the same on S32K312 when dealing with RAM? But why it works on FLASH then?