diff --git a/common/changes/@microsoft/rush/rework-PackageJsonEditor_2026-03-24-00-00.json b/common/changes/@microsoft/rush/rework-PackageJsonEditor_2026-03-24-00-00.json
new file mode 100644
index 00000000000..2dbff73d652
--- /dev/null
+++ b/common/changes/@microsoft/rush/rework-PackageJsonEditor_2026-03-24-00-00.json
@@ -0,0 +1,11 @@
+{
+  "changes": [
+    {
+      "comment": "Add async variants of disk-touching APIs in `PackageJsonEditor` (`loadAsync`, `saveIfModifiedAsync`), `CommonVersionsConfiguration` (`loadFromFileAsync`, `saveAsync`), and `VersionPolicy` (`setDependenciesBeforePublishAsync`, `setDependenciesBeforeCommitAsync`); deprecate corresponding sync methods.",
+      "type": "minor",
+      "packageName": "@microsoft/rush"
+    }
+  ],
+  "packageName": "@microsoft/rush",
+  "email": "iclanton@users.noreply.github.com"
+}
diff --git a/common/reviews/api/rush-lib.api.md b/common/reviews/api/rush-lib.api.md
index 79f6dab782e..dbbb440e40b 100644
--- a/common/reviews/api/rush-lib.api.md
+++ b/common/reviews/api/rush-lib.api.md
@@ -137,9 +137,13 @@ export class CommonVersionsConfiguration {
     getAllPreferredVersions(): Map<string, string>;
     getPreferredVersionsHash(): string;
     readonly implicitlyPreferredVersions: boolean | undefined;
+    // @deprecated (undocumented)
     static loadFromFile(jsonFilePath: string, rushConfiguration?: RushConfiguration): CommonVersionsConfiguration;
+    static loadFromFileAsync(jsonFilePath: string, rushConfiguration?: RushConfiguration): Promise<CommonVersionsConfiguration>;
     readonly preferredVersions: Map<string, string>;
+    // @deprecated (undocumented)
     save(): boolean;
+    saveAsync(): Promise<boolean>;
 }
 
 export { CredentialCache }
@@ -1097,15 +1101,19 @@ export class PackageJsonEditor {
     readonly filePath: string;
     // (undocumented)
     static fromObject(object: IPackageJson, filename: string): PackageJsonEditor;
-    // (undocumented)
+    // @deprecated (undocumented)
     static load(filePath: string): PackageJsonEditor;
     // (undocumented)
+    static loadAsync(filePath: string): Promise<PackageJsonEditor>;
+    // (undocumented)
     get name(): string;
     // (undocumented)
     removeDependency(packageName: string, dependencyType: DependencyType): void;
     get resolutionsList(): ReadonlyArray<PackageJsonDependency>;
-    // (undocumented)
+    // @deprecated (undocumented)
     saveIfModified(): boolean;
+    // (undocumented)
+    saveIfModifiedAsync(): Promise<boolean>;
     saveToObject(): IPackageJson;
     // (undocumented)
     tryGetDependency(packageName: string): PackageJsonDependency | undefined;
@@ -1648,8 +1656,12 @@ export abstract class VersionPolicy {
     // @internal
     static load(versionPolicyJson: IVersionPolicyJson): VersionPolicy | undefined;
     get policyName(): string;
+    // @deprecated (undocumented)
     setDependenciesBeforeCommit(packageName: string, configuration: RushConfiguration): void;
+    setDependenciesBeforeCommitAsync(packageName: string, configuration: RushConfiguration): Promise<void>;
+    // @deprecated (undocumented)
     setDependenciesBeforePublish(packageName: string, configuration: RushConfiguration): void;
+    setDependenciesBeforePublishAsync(packageName: string, configuration: RushConfiguration): Promise<void>;
     abstract validate(versionString: string, packageName: string): void;
 }
 
diff --git a/libraries/rush-lib/src/api/CommonVersionsConfiguration.ts b/libraries/rush-lib/src/api/CommonVersionsConfiguration.ts
index 0996bbc5a0f..b93cd7b59cf 100644
--- a/libraries/rush-lib/src/api/CommonVersionsConfiguration.ts
+++ b/libraries/rush-lib/src/api/CommonVersionsConfiguration.ts
@@ -186,17 +186,42 @@ export class CommonVersionsConfiguration {
   }
 
   /**
-   * Loads the common-versions.json data from the specified file path.
-   * If the file has not been created yet, then an empty object is returned.
+   * @deprecated Use {@link CommonVersionsConfiguration.loadFromFileAsync} method instead.
    */
   public static loadFromFile(
     jsonFilePath: string,
     rushConfiguration?: RushConfiguration
   ): CommonVersionsConfiguration {
     let commonVersionsJson: ICommonVersionsJson | undefined = undefined;
-
-    if (FileSystem.exists(jsonFilePath)) {
+    try {
       commonVersionsJson = JsonFile.loadAndValidate(jsonFilePath, CommonVersionsConfiguration._jsonSchema);
+    } catch (error) {
+      if (!FileSystem.isNotExistError(error)) {
+        throw error;
+      }
+    }
+
+    return new CommonVersionsConfiguration(commonVersionsJson, jsonFilePath, rushConfiguration);
+  }
+
+  /**
+   * Loads the common-versions.json data from the specified file path.
+   * If the file has not been created yet, then an empty object is returned.
+   */
+  public static async loadFromFileAsync(
+    jsonFilePath: string,
+    rushConfiguration?: RushConfiguration
+  ): Promise<CommonVersionsConfiguration> {
+    let commonVersionsJson: ICommonVersionsJson | undefined = undefined;
+    try {
+      commonVersionsJson = await JsonFile.loadAndValidateAsync(
+        jsonFilePath,
+        CommonVersionsConfiguration._jsonSchema
+      );
+    } catch (error) {
+      if (!FileSystem.isNotExistError(error)) {
+        throw error;
+      }
     }
 
     return new CommonVersionsConfiguration(commonVersionsJson, jsonFilePath, rushConfiguration);
@@ -242,7 +267,7 @@ export class CommonVersionsConfiguration {
   }
 
   /**
-   * Writes the "common-versions.json" file to disk, using the filename that was passed to loadFromFile().
+   * @deprecated Use {@link CommonVersionsConfiguration.saveAsync} method instead.
    */
   public save(): boolean {
     if (this._modified) {
@@ -257,6 +282,22 @@ export class CommonVersionsConfiguration {
     return false;
   }
 
+  /**
+   * Writes the "common-versions.json" file to disk, using the filename that was passed to loadFromFile().
+   */
+  public async saveAsync(): Promise<boolean> {
+    if (this._modified) {
+      await JsonFile.saveAsync(this._serialize(), this.filePath, {
+        updateExistingFile: true,
+        ignoreUndefinedValues: true
+      });
+      this._modified = false;
+      return true;
+    }
+
+    return false;
+  }
+
   /**
    * Returns preferredVersions.
    */
diff --git a/libraries/rush-lib/src/api/PackageJsonEditor.ts b/libraries/rush-lib/src/api/PackageJsonEditor.ts
index 27106a38ad1..c9baeb73e0f 100644
--- a/libraries/rush-lib/src/api/PackageJsonEditor.ts
+++ b/libraries/rush-lib/src/api/PackageJsonEditor.ts
@@ -97,97 +97,89 @@ export class PackageJsonEditor {
     this._sourceData = data;
     this._modified = false;
 
-    this._dependencies = new Map<string, PackageJsonDependency>();
-    this._devDependencies = new Map<string, PackageJsonDependency>();
-    this._resolutions = new Map<string, PackageJsonDependency>();
-    this._dependenciesMeta = new Map<string, PackageJsonDependencyMeta>();
-
-    const dependencies: { [key: string]: string } = data.dependencies || {};
-    const optionalDependencies: { [key: string]: string } = data.optionalDependencies || {};
-    const peerDependencies: { [key: string]: string } = data.peerDependencies || {};
-
-    const devDependencies: { [key: string]: string } = data.devDependencies || {};
-    const resolutions: { [key: string]: string } = data.resolutions || {};
-
-    const dependenciesMeta: { [key: string]: { [key: string]: boolean } } = data.dependenciesMeta || {};
+    const {
+      dependencies = {},
+      optionalDependencies = {},
+      peerDependencies = {},
+      devDependencies = {},
+      resolutions = {},
+      dependenciesMeta = {}
+    } = data;
 
     const _onChange: () => void = this._onChange.bind(this);
 
+    const optionalDependenciesSet: Set<string> = new Set(Object.keys(optionalDependencies));
+    const peerDependenciesSet: Set<string> = new Set(Object.keys(peerDependencies));
     try {
-      Object.keys(dependencies || {}).forEach((packageName: string) => {
-        if (Object.prototype.hasOwnProperty.call(optionalDependencies, packageName)) {
-          throw new Error(
-            `The package "${packageName}" cannot be listed in both ` +
-              `"dependencies" and "optionalDependencies"`
-          );
-        }
-        if (Object.prototype.hasOwnProperty.call(peerDependencies, packageName)) {
-          throw new Error(
-            `The package "${packageName}" cannot be listed in both "dependencies" and "peerDependencies"`
-          );
-        }
+      const dependenciesMapEntries: [string, PackageJsonDependency][] = Object.entries(dependencies).map(
+        ([packageName, version]: [string, string]) => {
+          if (optionalDependenciesSet.has(packageName)) {
+            throw new Error(
+              `The package "${packageName}" cannot be listed in both ` +
+                `"dependencies" and "optionalDependencies"`
+            );
+          }
+          if (peerDependenciesSet.has(packageName)) {
+            throw new Error(
+              `The package "${packageName}" cannot be listed in both "dependencies" and "peerDependencies"`
+            );
+          }
 
-        this._dependencies.set(
-          packageName,
-          new PackageJsonDependency(packageName, dependencies[packageName], DependencyType.Regular, _onChange)
-        );
-      });
+          return [
+            packageName,
+            new PackageJsonDependency(packageName, version, DependencyType.Regular, _onChange)
+          ];
+        }
+      );
 
-      Object.keys(optionalDependencies || {}).forEach((packageName: string) => {
-        if (Object.prototype.hasOwnProperty.call(peerDependencies, packageName)) {
+      const optionalDependenciesMapEntries: [string, PackageJsonDependency][] = Object.entries(
+        optionalDependencies
+      ).map(([packageName, version]) => {
+        if (peerDependenciesSet.has(packageName)) {
           throw new Error(
             `The package "${packageName}" cannot be listed in both ` +
               `"optionalDependencies" and "peerDependencies"`
           );
         }
-        this._dependencies.set(
-          packageName,
-          new PackageJsonDependency(
-            packageName,
-            optionalDependencies[packageName],
-            DependencyType.Optional,
-            _onChange
-          )
-        );
-      });
-
-      Object.keys(peerDependencies || {}).forEach((packageName: string) => {
-        this._dependencies.set(
+        return [
           packageName,
-          new PackageJsonDependency(
-            packageName,
-            peerDependencies[packageName],
-            DependencyType.Peer,
-            _onChange
-          )
-        );
+          new PackageJsonDependency(packageName, version, DependencyType.Optional, _onChange)
+        ];
       });
 
-      Object.keys(devDependencies || {}).forEach((packageName: string) => {
-        this._devDependencies.set(
+      const peerDependenciesMapEntries: [string, PackageJsonDependency][] = Object.entries(
+        peerDependencies
+      ).map(([packageName, version]) => [
+        packageName,
+        new PackageJsonDependency(packageName, version, DependencyType.Peer, _onChange)
+      ]);
+
+      this._dependencies = new Map([
+        ...dependenciesMapEntries,
+        ...optionalDependenciesMapEntries,
+        ...peerDependenciesMapEntries
+      ]);
+
+      this._devDependencies = new Map(
+        Object.entries(devDependencies).map(([packageName, version]) => [
           packageName,
-          new PackageJsonDependency(packageName, devDependencies[packageName], DependencyType.Dev, _onChange)
-        );
-      });
+          new PackageJsonDependency(packageName, version, DependencyType.Dev, _onChange)
+        ])
+      );
 
-      Object.keys(resolutions || {}).forEach((packageName: string) => {
-        this._resolutions.set(
+      this._resolutions = new Map(
+        Object.entries(resolutions).map(([packageName, version]) => [
           packageName,
-          new PackageJsonDependency(
-            packageName,
-            resolutions[packageName],
-            DependencyType.YarnResolutions,
-            _onChange
-          )
-        );
-      });
+          new PackageJsonDependency(packageName, version, DependencyType.YarnResolutions, _onChange)
+        ])
+      );
 
-      Object.keys(dependenciesMeta || {}).forEach((packageName: string) => {
-        this._dependenciesMeta.set(
+      this._dependenciesMeta = new Map(
+        Object.entries(dependenciesMeta).map(([packageName, { injected = false }]) => [
           packageName,
-          new PackageJsonDependencyMeta(packageName, dependenciesMeta[packageName].injected, _onChange)
-        );
-      });
+          new PackageJsonDependencyMeta(packageName, injected, _onChange)
+        ])
+      );
 
       // (Do not sort this._resolutions because order may be significant; the RFC is unclear about that.)
       Sort.sortMapKeys(this._dependencies);
@@ -197,8 +189,17 @@ export class PackageJsonEditor {
     }
   }
 
+  /**
+   * @deprecated Use {@link PackageJsonEditor.loadAsync} method instead.
+   */
   public static load(filePath: string): PackageJsonEditor {
-    return new PackageJsonEditor(filePath, JsonFile.load(filePath));
+    const packageJson: IPackageJson = JsonFile.load(filePath);
+    return new PackageJsonEditor(filePath, packageJson);
+  }
+
+  public static async loadAsync(filePath: string): Promise<PackageJsonEditor> {
+    const packageJson: IPackageJson = await JsonFile.loadAsync(filePath);
+    return new PackageJsonEditor(filePath, packageJson);
   }
 
   public static fromObject(object: IPackageJson, filename: string): PackageJsonEditor {
@@ -270,17 +271,24 @@ export class PackageJsonEditor {
     switch (dependencyType) {
       case DependencyType.Regular:
       case DependencyType.Optional:
-      case DependencyType.Peer:
+      case DependencyType.Peer: {
         this._dependencies.set(packageName, dependency);
         break;
-      case DependencyType.Dev:
+      }
+
+      case DependencyType.Dev: {
         this._devDependencies.set(packageName, dependency);
         break;
-      case DependencyType.YarnResolutions:
+      }
+
+      case DependencyType.YarnResolutions: {
         this._resolutions.set(packageName, dependency);
         break;
-      default:
+      }
+
+      default: {
         throw new InternalError('Unsupported DependencyType');
+      }
     }
 
     this._modified = true;
@@ -290,22 +298,32 @@ export class PackageJsonEditor {
     switch (dependencyType) {
       case DependencyType.Regular:
       case DependencyType.Optional:
-      case DependencyType.Peer:
+      case DependencyType.Peer: {
         this._dependencies.delete(packageName);
         break;
-      case DependencyType.Dev:
+      }
+
+      case DependencyType.Dev: {
         this._devDependencies.delete(packageName);
         break;
-      case DependencyType.YarnResolutions:
+      }
+
+      case DependencyType.YarnResolutions: {
         this._resolutions.delete(packageName);
         break;
-      default:
+      }
+
+      default: {
         throw new InternalError('Unsupported DependencyType');
+      }
     }
 
     this._modified = true;
   }
 
+  /**
+   * @deprecated Use {@link PackageJsonEditor.saveIfModifiedAsync} method instead.
+   */
   public saveIfModified(): boolean {
     if (this._modified) {
       this._modified = false;
@@ -316,6 +334,21 @@ export class PackageJsonEditor {
       });
       return true;
     }
+
+    return false;
+  }
+
+  public async saveIfModifiedAsync(): Promise<boolean> {
+    if (this._modified) {
+      this._modified = false;
+      this._sourceData = this._normalize(this._sourceData);
+      await JsonFile.saveAsync(this._sourceData, this.filePath, {
+        updateExistingFile: true,
+        jsonSyntax: JsonSyntax.Strict
+      });
+      return true;
+    }
+
     return false;
   }
 
@@ -353,53 +386,64 @@ export class PackageJsonEditor {
     const keys: string[] = [...this._dependencies.keys()].sort();
 
     for (const packageName of keys) {
-      const dependency: PackageJsonDependency = this._dependencies.get(packageName)!;
+      const { dependencyType, name, version }: PackageJsonDependency = this._dependencies.get(packageName)!;
 
-      switch (dependency.dependencyType) {
-        case DependencyType.Regular:
+      switch (dependencyType) {
+        case DependencyType.Regular: {
           if (!normalizedData.dependencies) {
             normalizedData.dependencies = {};
           }
-          normalizedData.dependencies[dependency.name] = dependency.version;
+
+          normalizedData.dependencies[name] = version;
           break;
-        case DependencyType.Optional:
+        }
+
+        case DependencyType.Optional: {
           if (!normalizedData.optionalDependencies) {
             normalizedData.optionalDependencies = {};
           }
-          normalizedData.optionalDependencies[dependency.name] = dependency.version;
+
+          normalizedData.optionalDependencies[name] = version;
           break;
-        case DependencyType.Peer:
+        }
+
+        case DependencyType.Peer: {
           if (!normalizedData.peerDependencies) {
             normalizedData.peerDependencies = {};
           }
-          normalizedData.peerDependencies[dependency.name] = dependency.version;
+
+          normalizedData.peerDependencies[name] = version;
           break;
+        }
+
         case DependencyType.Dev: // uses this._devDependencies instead
         case DependencyType.YarnResolutions: // uses this._resolutions instead
-        default:
+        default: {
           throw new InternalError('Unsupported DependencyType');
+        }
       }
     }
 
     const devDependenciesKeys: string[] = [...this._devDependencies.keys()].sort();
-
     for (const packageName of devDependenciesKeys) {
-      const dependency: PackageJsonDependency = this._devDependencies.get(packageName)!;
+      const { name, version }: PackageJsonDependency = this._devDependencies.get(packageName)!;
 
       if (!normalizedData.devDependencies) {
         normalizedData.devDependencies = {};
       }
-      normalizedData.devDependencies[dependency.name] = dependency.version;
+
+      normalizedData.devDependencies[name] = version;
     }
 
     // (Do not sort this._resolutions because order may be significant; the RFC is unclear about that.)
     for (const packageName of this._resolutions.keys()) {
-      const dependency: PackageJsonDependency = this._resolutions.get(packageName)!;
+      const { name, version }: PackageJsonDependency = this._resolutions.get(packageName)!;
 
       if (!normalizedData.resolutions) {
         normalizedData.resolutions = {};
       }
-      normalizedData.resolutions[dependency.name] = dependency.version;
+
+      normalizedData.resolutions[name] = version;
     }
 
     return normalizedData;
diff --git a/libraries/rush-lib/src/api/SaveCallbackPackageJsonEditor.ts b/libraries/rush-lib/src/api/SaveCallbackPackageJsonEditor.ts
index 1462d824548..5b755212eab 100644
--- a/libraries/rush-lib/src/api/SaveCallbackPackageJsonEditor.ts
+++ b/libraries/rush-lib/src/api/SaveCallbackPackageJsonEditor.ts
@@ -24,8 +24,8 @@ export class SaveCallbackPackageJsonEditor extends PackageJsonEditor {
     return new SaveCallbackPackageJsonEditor(options);
   }
 
-  public saveIfModified(): boolean {
-    const modified: boolean = super.saveIfModified();
+  public async saveIfModifiedAsync(): Promise<boolean> {
+    const modified: boolean = await super.saveIfModifiedAsync();
     if (this._onSaved) {
       this._onSaved(this.saveToObject());
     }
diff --git a/libraries/rush-lib/src/api/Subspace.ts b/libraries/rush-lib/src/api/Subspace.ts
index 624b1a33bd6..7f2feddb836 100644
--- a/libraries/rush-lib/src/api/Subspace.ts
+++ b/libraries/rush-lib/src/api/Subspace.ts
@@ -325,6 +325,7 @@ export class Subspace {
         this._rushConfiguration
       );
     }
+
     return this._commonVersionsConfiguration;
   }
 
diff --git a/libraries/rush-lib/src/api/VersionPolicy.ts b/libraries/rush-lib/src/api/VersionPolicy.ts
index f2df9deaf58..b738ba487d0 100644
--- a/libraries/rush-lib/src/api/VersionPolicy.ts
+++ b/libraries/rush-lib/src/api/VersionPolicy.ts
@@ -52,6 +52,66 @@ export enum VersionPolicyDefinitionName {
   'individualVersion'
 }
 
+/**
+ * Updates the dependencies in the package json editor to values used for publishing, if needed.
+ *
+ * @returns the updated package json editor if the version format for publish is 'exact', otherwise undefined.
+ */
+function updateDependenciesBeforePublish(
+  packageName: string,
+  configuration: RushConfiguration,
+  versionFormatForPublish: VersionFormatForPublish
+): PackageJsonEditor | undefined {
+  if (versionFormatForPublish === 'exact') {
+    const project: RushConfigurationProject = configuration.getProjectByName(packageName)!;
+
+    const packageJsonEditor: PackageJsonEditor = project.packageJsonEditor;
+
+    for (const dependency of packageJsonEditor.dependencyList) {
+      const rushDependencyProject: RushConfigurationProject | undefined = configuration.getProjectByName(
+        dependency.name
+      );
+
+      if (rushDependencyProject) {
+        const dependencyVersion: string = rushDependencyProject.packageJson.version;
+
+        dependency.setVersion(dependencyVersion);
+      }
+    }
+
+    return packageJsonEditor;
+  }
+}
+
+/**
+ * Updates the dependencies in the package json editor to values used for checked-in source, if needed.
+ *
+ * @returns the updated package json editor if the version format for commit is 'wildcard', otherwise undefined.
+ */
+function updateDependenciesBeforeCommit(
+  packageName: string,
+  configuration: RushConfiguration,
+  versionFormatForCommit: VersionFormatForCommit
+): PackageJsonEditor | undefined {
+  if (versionFormatForCommit === 'wildcard') {
+    const project: RushConfigurationProject = configuration.getProjectByName(packageName)!;
+
+    const packageJsonEditor: PackageJsonEditor = project.packageJsonEditor;
+
+    for (const dependency of packageJsonEditor.dependencyList) {
+      const rushDependencyProject: RushConfigurationProject | undefined = configuration.getProjectByName(
+        dependency.name
+      );
+
+      if (rushDependencyProject) {
+        dependency.setVersion('*');
+      }
+    }
+
+    return packageJsonEditor;
+  }
+}
+
 /**
  * This is the base class for version policy which controls how versions get bumped.
  * @public
@@ -161,53 +221,63 @@ export abstract class VersionPolicy {
   public abstract validate(versionString: string, packageName: string): void;
 
   /**
-   * Tells the version policy to modify any dependencies in the target package
-   * to values used for publishing.
+   * @deprecated Use {@link VersionPolicy.setDependenciesBeforePublishAsync} method instead.
    */
   public setDependenciesBeforePublish(packageName: string, configuration: RushConfiguration): void {
-    if (this._versionFormatForPublish === 'exact') {
-      const project: RushConfigurationProject = configuration.getProjectByName(packageName)!;
+    const packageJsonEditor: PackageJsonEditor | undefined = updateDependenciesBeforePublish(
+      packageName,
+      configuration,
+      this._versionFormatForPublish
+    );
 
-      const packageJsonEditor: PackageJsonEditor = project.packageJsonEditor;
+    packageJsonEditor?.saveIfModified();
+  }
 
-      for (const dependency of packageJsonEditor.dependencyList) {
-        const rushDependencyProject: RushConfigurationProject | undefined = configuration.getProjectByName(
-          dependency.name
-        );
+  /**
+   * Tells the version policy to modify any dependencies in the target package
+   * to values used for publishing.
+   */
+  public async setDependenciesBeforePublishAsync(
+    packageName: string,
+    configuration: RushConfiguration
+  ): Promise<void> {
+    const packageJsonEditor: PackageJsonEditor | undefined = updateDependenciesBeforePublish(
+      packageName,
+      configuration,
+      this._versionFormatForPublish
+    );
 
-        if (rushDependencyProject) {
-          const dependencyVersion: string = rushDependencyProject.packageJson.version;
+    await packageJsonEditor?.saveIfModifiedAsync();
+  }
 
-          dependency.setVersion(dependencyVersion);
-        }
-      }
+  /**
+   * @deprecated Use {@link VersionPolicy.setDependenciesBeforeCommitAsync} method instead.
+   */
+  public setDependenciesBeforeCommit(packageName: string, configuration: RushConfiguration): void {
+    const packageJsonEditor: PackageJsonEditor | undefined = updateDependenciesBeforeCommit(
+      packageName,
+      configuration,
+      this._versionFormatForCommit
+    );
 
-      packageJsonEditor.saveIfModified();
-    }
+    packageJsonEditor?.saveIfModified();
   }
 
   /**
    * Tells the version policy to modify any dependencies in the target package
    * to values used for checked-in source.
    */
-  public setDependenciesBeforeCommit(packageName: string, configuration: RushConfiguration): void {
-    if (this._versionFormatForCommit === 'wildcard') {
-      const project: RushConfigurationProject = configuration.getProjectByName(packageName)!;
-
-      const packageJsonEditor: PackageJsonEditor = project.packageJsonEditor;
-
-      for (const dependency of packageJsonEditor.dependencyList) {
-        const rushDependencyProject: RushConfigurationProject | undefined = configuration.getProjectByName(
-          dependency.name
-        );
-
-        if (rushDependencyProject) {
-          dependency.setVersion('*');
-        }
-      }
+  public async setDependenciesBeforeCommitAsync(
+    packageName: string,
+    configuration: RushConfiguration
+  ): Promise<void> {
+    const packageJsonEditor: PackageJsonEditor | undefined = updateDependenciesBeforeCommit(
+      packageName,
+      configuration,
+      this._versionFormatForCommit
+    );
 
-      packageJsonEditor.saveIfModified();
-    }
+    await packageJsonEditor?.saveIfModifiedAsync();
   }
 }
 
diff --git a/libraries/rush-lib/src/api/test/CommonVersionsConfiguration.test.ts b/libraries/rush-lib/src/api/test/CommonVersionsConfiguration.test.ts
index 6e6b2553cd9..ec42d471194 100644
--- a/libraries/rush-lib/src/api/test/CommonVersionsConfiguration.test.ts
+++ b/libraries/rush-lib/src/api/test/CommonVersionsConfiguration.test.ts
@@ -5,9 +5,9 @@ import { CommonVersionsConfiguration } from '../CommonVersionsConfiguration';
 import type { RushConfiguration } from '../RushConfiguration';
 
 describe(CommonVersionsConfiguration.name, () => {
-  it('can load the file', () => {
+  it('can load the file', async () => {
     const filename: string = `${__dirname}/jsonFiles/common-versions.json`;
-    const configuration: CommonVersionsConfiguration = CommonVersionsConfiguration.loadFromFile(
+    const configuration: CommonVersionsConfiguration = await CommonVersionsConfiguration.loadFromFileAsync(
       filename,
       {} as RushConfiguration
     );
@@ -16,33 +16,39 @@ describe(CommonVersionsConfiguration.name, () => {
     expect(configuration.allowedAlternativeVersions.get('library-3')).toEqual(['^1.2.3']);
   });
 
-  it('gets `ensureConsistentVersions` from the file if it provides that value', () => {
+  it('gets `ensureConsistentVersions` from the file if it provides that value', async () => {
     const filename: string = `${__dirname}/jsonFiles/common-versions-with-ensureConsistentVersionsTrue.json`;
-    const configuration: CommonVersionsConfiguration = CommonVersionsConfiguration.loadFromFile(filename, {
-      _ensureConsistentVersionsJsonValue: undefined,
-      ensureConsistentVersions: false
-    } as RushConfiguration);
+    const configuration: CommonVersionsConfiguration = await CommonVersionsConfiguration.loadFromFileAsync(
+      filename,
+      {
+        _ensureConsistentVersionsJsonValue: undefined,
+        ensureConsistentVersions: false
+      } as RushConfiguration
+    );
 
     expect(configuration.ensureConsistentVersions).toBe(true);
   });
 
-  it("gets `ensureConsistentVersions` from the rush configuration if common-versions.json doesn't provide that value", () => {
+  it("gets `ensureConsistentVersions` from the rush configuration if common-versions.json doesn't provide that value", async () => {
     const filename: string = `${__dirname}/jsonFiles/common-versions.json`;
-    const configuration: CommonVersionsConfiguration = CommonVersionsConfiguration.loadFromFile(filename, {
-      _ensureConsistentVersionsJsonValue: false,
-      ensureConsistentVersions: false
-    } as RushConfiguration);
+    const configuration: CommonVersionsConfiguration = await CommonVersionsConfiguration.loadFromFileAsync(
+      filename,
+      {
+        _ensureConsistentVersionsJsonValue: false,
+        ensureConsistentVersions: false
+      } as RushConfiguration
+    );
 
     expect(configuration.ensureConsistentVersions).toBe(false);
   });
 
-  it('Does not allow `ensureConsistentVersions` to be set in both rush.json and common-versions.json', () => {
+  it('Does not allow `ensureConsistentVersions` to be set in both rush.json and common-versions.json', async () => {
     const filename: string = `${__dirname}/jsonFiles/common-versions-with-ensureConsistentVersionsTrue.json`;
-    expect(() =>
-      CommonVersionsConfiguration.loadFromFile(filename, {
+    await expect(() =>
+      CommonVersionsConfiguration.loadFromFileAsync(filename, {
         _ensureConsistentVersionsJsonValue: false,
         ensureConsistentVersions: false
       } as RushConfiguration)
-    ).toThrowErrorMatchingSnapshot();
+    ).rejects.toThrowErrorMatchingSnapshot();
   });
 });
diff --git a/libraries/rush-lib/src/api/test/RushConfiguration.test.ts b/libraries/rush-lib/src/api/test/RushConfiguration.test.ts
index f7513eb4a01..6b90c8c2a10 100644
--- a/libraries/rush-lib/src/api/test/RushConfiguration.test.ts
+++ b/libraries/rush-lib/src/api/test/RushConfiguration.test.ts
@@ -324,7 +324,7 @@ describe(RushConfiguration.name, () => {
         'dependencyProjects before'
       );
       project.packageJsonEditor.addOrUpdateDependency('project2', '1.0.0', DependencyType.Dev);
-      project.packageJsonEditor.saveIfModified();
+      await project.packageJsonEditor.saveIfModifiedAsync();
       expect(project.packageJson.devDependencies).toMatchSnapshot('devDependencies after');
       expect(Array.from(project.dependencyProjects.values()).map((x) => x.packageName)).toMatchSnapshot(
         'dependencyProjects after'
diff --git a/libraries/rush-lib/src/api/test/VersionMismatchFinder.test.ts b/libraries/rush-lib/src/api/test/VersionMismatchFinder.test.ts
index b2a661d23ce..a9ea220ec72 100644
--- a/libraries/rush-lib/src/api/test/VersionMismatchFinder.test.ts
+++ b/libraries/rush-lib/src/api/test/VersionMismatchFinder.test.ts
@@ -415,7 +415,7 @@ describe(VersionMismatchFinder.name, () => {
     expect(mismatchFinder.getMismatches()).toHaveLength(0);
   });
 
-  it('handles the common-versions.json file correctly', () => {
+  it('handles the common-versions.json file correctly', async () => {
     const projectA: VersionMismatchFinderEntity = new VersionMismatchFinderProject({
       packageName: 'A',
       packageJsonEditor: PackageJsonEditor.fromObject(
@@ -429,8 +429,10 @@ describe(VersionMismatchFinder.name, () => {
       ),
       decoupledLocalDependencies: new Set<string>()
     } as any as RushConfigurationProject);
+    const commonVersionsConfiguration: CommonVersionsConfiguration =
+      await CommonVersionsConfiguration.loadFromFileAsync(`${__dirname}/jsonFiles/common-versions.json`);
     const projectB: VersionMismatchFinderEntity = new VersionMismatchFinderCommonVersions(
-      CommonVersionsConfiguration.loadFromFile(`${__dirname}/jsonFiles/common-versions.json`)
+      commonVersionsConfiguration
     );
 
     const mismatchFinder: VersionMismatchFinder = new VersionMismatchFinder([projectA, projectB]);
diff --git a/libraries/rush-lib/src/cli/actions/PublishAction.ts b/libraries/rush-lib/src/cli/actions/PublishAction.ts
index cb05204508f..87281a4a58e 100644
--- a/libraries/rush-lib/src/cli/actions/PublishAction.ts
+++ b/libraries/rush-lib/src/cli/actions/PublishAction.ts
@@ -10,7 +10,7 @@ import type {
   CommandLineStringParameter,
   CommandLineChoiceParameter
 } from '@rushstack/ts-command-line';
-import { FileSystem } from '@rushstack/node-core-library';
+import { Async, FileSystem } from '@rushstack/node-core-library';
 import { Colorize } from '@rushstack/terminal';
 
 import { type IChangeInfo, ChangeType } from '../../api/ChangeManagement';
@@ -24,12 +24,12 @@ import { ChangeManager } from '../../logic/ChangeManager';
 import { BaseRushAction } from './BaseRushAction';
 import { PublishGit } from '../../logic/PublishGit';
 import * as PolicyValidator from '../../logic/policy/PolicyValidator';
-import type { VersionPolicy } from '../../api/VersionPolicy';
 import { DEFAULT_PACKAGE_UPDATE_MESSAGE } from './VersionAction';
 import { Utilities } from '../../utilities/Utilities';
 import { Git } from '../../logic/Git';
 import { RushConstants } from '../../logic/RushConstants';
 import { IS_WINDOWS } from '../../utilities/executionUtilities';
+import type { RushConfiguration } from '../../api/RushConfiguration';
 
 export class PublishAction extends BaseRushAction {
   private readonly _addCommitDetails: CommandLineFlagParameter;
@@ -294,13 +294,13 @@ export class PublishAction extends BaseRushAction {
       // Make changes in temp branch.
       await publishGit.checkoutAsync(tempBranchName, true);
 
-      this._setDependenciesBeforePublish();
+      await this._setDependenciesBeforePublishAsync();
 
       // Make changes to package.json and change logs.
       changeManager.apply(this._apply.value);
       await changeManager.updateChangelogAsync(this._apply.value);
 
-      this._setDependenciesBeforeCommit();
+      await this._setDependenciesBeforeCommitAsync();
 
       if (await git.hasUncommittedChangesAsync()) {
         // Stage, commit, and push the changes to remote temp branch.
@@ -311,7 +311,7 @@ export class PublishAction extends BaseRushAction {
         );
         await publishGit.pushAsync(tempBranchName, !this._ignoreGitHooksParameter.value);
 
-        this._setDependenciesBeforePublish();
+        await this._setDependenciesBeforePublishAsync();
 
         // Override tag parameter if there is a hotfix change.
         for (const change of orderedChanges) {
@@ -339,7 +339,7 @@ export class PublishAction extends BaseRushAction {
           }
         }
 
-        this._setDependenciesBeforeCommit();
+        await this._setDependenciesBeforeCommitAsync();
 
         // Create and push appropriate Git tags.
         await this._gitAddTagsAsync(publishGit, orderedChanges);
@@ -560,28 +560,30 @@ export class PublishAction extends BaseRushAction {
     }
   }
 
-  private _setDependenciesBeforePublish(): void {
-    for (const project of this.rushConfiguration.projects) {
-      if (!this._versionPolicy.value || this._versionPolicy.value === project.versionPolicyName) {
-        const versionPolicy: VersionPolicy | undefined = project.versionPolicy;
-
-        if (versionPolicy) {
-          versionPolicy.setDependenciesBeforePublish(project.packageName, this.rushConfiguration);
+  private async _setDependenciesBeforePublishAsync(): Promise<void> {
+    const rushConfiguration: RushConfiguration = this.rushConfiguration;
+    await Async.forEachAsync(
+      rushConfiguration.projects,
+      async ({ versionPolicy, versionPolicyName, packageName }) => {
+        if (!this._versionPolicy.value || this._versionPolicy.value === versionPolicyName) {
+          await versionPolicy?.setDependenciesBeforePublishAsync(packageName, rushConfiguration);
         }
-      }
-    }
+      },
+      { concurrency: 10 }
+    );
   }
 
-  private _setDependenciesBeforeCommit(): void {
-    for (const project of this.rushConfiguration.projects) {
-      if (!this._versionPolicy.value || this._versionPolicy.value === project.versionPolicyName) {
-        const versionPolicy: VersionPolicy | undefined = project.versionPolicy;
-
-        if (versionPolicy) {
-          versionPolicy.setDependenciesBeforePublish(project.packageName, this.rushConfiguration);
+  private async _setDependenciesBeforeCommitAsync(): Promise<void> {
+    const rushConfiguration: RushConfiguration = this.rushConfiguration;
+    await Async.forEachAsync(
+      rushConfiguration.projects,
+      async ({ versionPolicy, versionPolicyName, packageName }) => {
+        if (!this._versionPolicy.value || this._versionPolicy.value === versionPolicyName) {
+          await versionPolicy?.setDependenciesBeforeCommitAsync(packageName, rushConfiguration);
         }
-      }
-    }
+      },
+      { concurrency: 10 }
+    );
   }
 
   private _addNpmPublishHome(supportEnvVarFallbackSyntax: boolean): void {
diff --git a/libraries/rush-lib/src/logic/Autoinstaller.ts b/libraries/rush-lib/src/logic/Autoinstaller.ts
index 8c35ea07b82..ae55a8c361b 100644
--- a/libraries/rush-lib/src/logic/Autoinstaller.ts
+++ b/libraries/rush-lib/src/logic/Autoinstaller.ts
@@ -210,7 +210,7 @@ export class Autoinstaller {
     }
 
     // Detect a common mistake where PNPM prints "Already up-to-date" without creating a shrinkwrap file
-    const packageJsonEditor: PackageJsonEditor = PackageJsonEditor.load(this.packageJsonPath);
+    const packageJsonEditor: PackageJsonEditor = await PackageJsonEditor.loadAsync(this.packageJsonPath);
     if (packageJsonEditor.dependencyList.length === 0) {
       throw new Error(
         'You must add at least one dependency to the autoinstaller package' +
diff --git a/libraries/rush-lib/src/logic/PackageJsonUpdater.ts b/libraries/rush-lib/src/logic/PackageJsonUpdater.ts
index 762dce515ab..3a1e4789fbb 100644
--- a/libraries/rush-lib/src/logic/PackageJsonUpdater.ts
+++ b/libraries/rush-lib/src/logic/PackageJsonUpdater.ts
@@ -5,6 +5,7 @@ import * as semver from 'semver';
 
 import type { INpmCheckPackageSummary } from '@rushstack/npm-check-fork';
 import { Colorize, type ITerminal } from '@rushstack/terminal';
+import { Async } from '@rushstack/node-core-library';
 
 import type { RushConfiguration } from '../api/RushConfiguration';
 import type { BaseInstallManager } from './base/BaseInstallManager';
@@ -223,11 +224,16 @@ export class PackageJsonUpdater {
       }
     }
 
-    for (const [filePath, project] of allPackageUpdates) {
-      if (project.saveIfModified()) {
-        this._terminal.writeLine(Colorize.green('Wrote ') + filePath);
-      }
-    }
+    await Async.forEachAsync(
+      allPackageUpdates,
+      async ([filePath, project]) => {
+        const modified: boolean = await project.saveIfModifiedAsync();
+        if (modified) {
+          this._terminal.writeLine(Colorize.green('Wrote ') + filePath);
+        }
+      },
+      { concurrency: 10 }
+    );
 
     if (!skipUpdate) {
       if (this._rushConfiguration.subspacesFeatureEnabled) {
@@ -252,12 +258,18 @@ export class PackageJsonUpdater {
     } else {
       throw new Error('only accept "rush add" or "rush remove"');
     }
+
     const { skipUpdate, debugInstall, variant } = options;
-    for (const { project } of allPackageUpdates) {
-      if (project.saveIfModified()) {
-        this._terminal.writeLine(Colorize.green('Wrote'), project.filePath);
-      }
-    }
+    await Async.forEachAsync(
+      allPackageUpdates,
+      async ({ project }) => {
+        const modified: boolean = await project.saveIfModifiedAsync();
+        if (modified) {
+          this._terminal.writeLine(Colorize.green('Wrote'), project.filePath);
+        }
+      },
+      { concurrency: 10 }
+    );
 
     if (!skipUpdate) {
       if (this._rushConfiguration.subspacesFeatureEnabled) {
diff --git a/libraries/rush-lib/src/logic/installManager/RushInstallManager.ts b/libraries/rush-lib/src/logic/installManager/RushInstallManager.ts
index 60e9dcc2971..247aa96131f 100644
--- a/libraries/rush-lib/src/logic/installManager/RushInstallManager.ts
+++ b/libraries/rush-lib/src/logic/installManager/RushInstallManager.ts
@@ -357,7 +357,8 @@ export class RushInstallManager extends BaseInstallManager {
       }
 
       // Save the package.json if we modified the version references and warn that the package.json was modified
-      if (packageJson.saveIfModified()) {
+      const modified: boolean = await packageJson.saveIfModifiedAsync();
+      if (modified) {
         // eslint-disable-next-line no-console
         console.log(
           Colorize.yellow(
diff --git a/libraries/rush-lib/src/logic/installManager/WorkspaceInstallManager.ts b/libraries/rush-lib/src/logic/installManager/WorkspaceInstallManager.ts
index 4be7bb4a913..9526f0e8d59 100644
--- a/libraries/rush-lib/src/logic/installManager/WorkspaceInstallManager.ts
+++ b/libraries/rush-lib/src/logic/installManager/WorkspaceInstallManager.ts
@@ -316,7 +316,8 @@ export class WorkspaceInstallManager extends BaseInstallManager {
       }
 
       // Save the package.json if we modified the version references and warn that the package.json was modified
-      if (packageJson.saveIfModified()) {
+      const modified: boolean = await packageJson.saveIfModifiedAsync();
+      if (modified) {
         // eslint-disable-next-line no-console
         console.log(
           Colorize.yellow(
diff --git a/libraries/rush-lib/src/logic/versionMismatch/VersionMismatchFinderCommonVersions.ts b/libraries/rush-lib/src/logic/versionMismatch/VersionMismatchFinderCommonVersions.ts
index bec3f535149..1e2c11b17bf 100644
--- a/libraries/rush-lib/src/logic/versionMismatch/VersionMismatchFinderCommonVersions.ts
+++ b/libraries/rush-lib/src/logic/versionMismatch/VersionMismatchFinderCommonVersions.ts
@@ -63,8 +63,8 @@ export class VersionMismatchFinderCommonVersions extends VersionMismatchFinderEn
     throw new Error('Not supported.');
   }
 
-  public saveIfModified(): boolean {
-    return this._fileManager.save();
+  public async saveIfModifiedAsync(): Promise<boolean> {
+    return await this._fileManager.saveAsync();
   }
 
   private _getPackageJsonDependency(dependencyName: string, version: string): PackageJsonDependency {
diff --git a/libraries/rush-lib/src/logic/versionMismatch/VersionMismatchFinderEntity.ts b/libraries/rush-lib/src/logic/versionMismatch/VersionMismatchFinderEntity.ts
index 054d7291c79..5b2284d97aa 100644
--- a/libraries/rush-lib/src/logic/versionMismatch/VersionMismatchFinderEntity.ts
+++ b/libraries/rush-lib/src/logic/versionMismatch/VersionMismatchFinderEntity.ts
@@ -15,9 +15,10 @@ export abstract class VersionMismatchFinderEntity {
   public readonly skipRushCheck: boolean | undefined;
 
   public constructor(options: IVersionMismatchFinderEntityOptions) {
-    this.friendlyName = options.friendlyName;
-    this.decoupledLocalDependencies = options.decoupledLocalDependencies;
-    this.skipRushCheck = options.skipRushCheck;
+    const { friendlyName, decoupledLocalDependencies, skipRushCheck } = options;
+    this.friendlyName = friendlyName;
+    this.decoupledLocalDependencies = decoupledLocalDependencies;
+    this.skipRushCheck = skipRushCheck;
   }
 
   public abstract get filePath(): string;
@@ -31,5 +32,5 @@ export abstract class VersionMismatchFinderEntity {
     dependencyType: DependencyType
   ): void;
   public abstract removeDependency(packageName: string, dependencyType: DependencyType): void;
-  public abstract saveIfModified(): boolean;
+  public abstract saveIfModifiedAsync(): Promise<boolean>;
 }
diff --git a/libraries/rush-lib/src/logic/versionMismatch/VersionMismatchFinderProject.ts b/libraries/rush-lib/src/logic/versionMismatch/VersionMismatchFinderProject.ts
index 1bbfd4d7a84..cc63370b687 100644
--- a/libraries/rush-lib/src/logic/versionMismatch/VersionMismatchFinderProject.ts
+++ b/libraries/rush-lib/src/logic/versionMismatch/VersionMismatchFinderProject.ts
@@ -48,7 +48,7 @@ export class VersionMismatchFinderProject extends VersionMismatchFinderEntity {
     return this._fileManager.removeDependency(packageName, dependencyType);
   }
 
-  public saveIfModified(): boolean {
-    return this._fileManager.saveIfModified();
+  public async saveIfModifiedAsync(): Promise<boolean> {
+    return await this._fileManager.saveIfModifiedAsync();
   }
 }
diff --git a/repo-scripts/repo-toolbox/src/cli/actions/BumpDecoupledLocalDependencies.ts b/repo-scripts/repo-toolbox/src/cli/actions/BumpDecoupledLocalDependencies.ts
index 14657e0be70..ef70cefc537 100644
--- a/repo-scripts/repo-toolbox/src/cli/actions/BumpDecoupledLocalDependencies.ts
+++ b/repo-scripts/repo-toolbox/src/cli/actions/BumpDecoupledLocalDependencies.ts
@@ -94,7 +94,7 @@ export class BumpDecoupledLocalDependencies extends CommandLineAction {
           const autoinstallerName: string = folderItem.name;
           const packageJsonPath: string = `${commonAutoinstallersFolder}/${autoinstallerName}/package.json`;
           try {
-            const packageJsonEditor: PackageJsonEditor = PackageJsonEditor.load(packageJsonPath);
+            const packageJsonEditor: PackageJsonEditor = await PackageJsonEditor.loadAsync(packageJsonPath);
 
             const { dependencyList, devDependencyList } = packageJsonEditor;
             const decoupledLocalDependencies: Set<string> = new Set();
@@ -135,40 +135,45 @@ export class BumpDecoupledLocalDependencies extends CommandLineAction {
 
     terminal.writeLine();
 
-    for (const { packageName, decoupledLocalDependencies, subspace, packageJsonEditor } of projectsToUpdate) {
-      const { allowedAlternativeVersions } = subspace?.getCommonVersions() ?? {};
-
-      for (const cyclicDependencyProject of decoupledLocalDependencies) {
-        const { version: existingVersion } =
-          packageJsonEditor.tryGetDependency(cyclicDependencyProject) ??
-          packageJsonEditor.tryGetDevDependency(cyclicDependencyProject) ??
-          {};
-        if (
-          existingVersion &&
-          allowedAlternativeVersions?.get(cyclicDependencyProject)?.includes(existingVersion)
-        ) {
-          // Skip if the existing version is allowed by common-versions.json
-          continue;
-        }
+    await Async.forEachAsync(
+      projectsToUpdate,
+      async ({ packageName, decoupledLocalDependencies, subspace, packageJsonEditor }) => {
+        const { allowedAlternativeVersions } = subspace?.getCommonVersions() ?? {};
+
+        for (const cyclicDependencyProject of decoupledLocalDependencies) {
+          const { version: existingVersion } =
+            packageJsonEditor.tryGetDependency(cyclicDependencyProject) ??
+            packageJsonEditor.tryGetDevDependency(cyclicDependencyProject) ??
+            {};
+          if (
+            existingVersion &&
+            allowedAlternativeVersions?.get(cyclicDependencyProject)?.includes(existingVersion)
+          ) {
+            // Skip if the existing version is allowed by common-versions.json
+            continue;
+          }
 
-        const newVersion: string = decoupledLocalDependencyVersionsByName.get(cyclicDependencyProject)!;
-        if (packageJsonEditor.tryGetDependency(cyclicDependencyProject)) {
-          packageJsonEditor.addOrUpdateDependency(
-            cyclicDependencyProject,
-            newVersion,
-            DependencyType.Regular
-          );
-        }
+          const newVersion: string = decoupledLocalDependencyVersionsByName.get(cyclicDependencyProject)!;
+          if (packageJsonEditor.tryGetDependency(cyclicDependencyProject)) {
+            packageJsonEditor.addOrUpdateDependency(
+              cyclicDependencyProject,
+              newVersion,
+              DependencyType.Regular
+            );
+          }
 
-        if (packageJsonEditor.tryGetDevDependency(cyclicDependencyProject)) {
-          packageJsonEditor.addOrUpdateDependency(cyclicDependencyProject, newVersion, DependencyType.Dev);
+          if (packageJsonEditor.tryGetDevDependency(cyclicDependencyProject)) {
+            packageJsonEditor.addOrUpdateDependency(cyclicDependencyProject, newVersion, DependencyType.Dev);
+          }
         }
-      }
 
-      if (packageJsonEditor.saveIfModified()) {
-        terminal.writeLine(`Updated ${packageName}`);
-      }
-    }
+        const modified: boolean = await packageJsonEditor.saveIfModifiedAsync();
+        if (modified) {
+          terminal.writeLine(`Updated ${packageName}`);
+        }
+      },
+      { concurrency: 10 }
+    );
 
     terminal.writeLine();