Yes, it can happen and even more extreme scenarios might happen.

Think that you have 2 features, the beginning of a period s and its end e. Assume the the concept is the period length l = (e-s) and we will build the dataset so both s and e are independent of l.

Correlation consider only a single feature and the concept and it will be 0 (by construction). However, given the start and the end of the period, you have all the information on its length.

Returning to your question, you can build a scenario in which the zero correlation predictor and on of the others predictor sum is the concept. Multiple regression is very suitable to these problems so you can get perfect prediction. That will be even easier if you'll remove all the rest of the predictors.

Yes, it can happen and even more extreme scenarios might happen.

Think that you have 2 features, the beginning of a period $s$ and its end $e$. Assume the the concept is the period length $l = (e-s)$ and we will build the data set so both $s$ and $e$ are independent of $l$.

Correlation consider only a single feature and the concept and it will be $0$ (by construction). However, given the start and the end of the period, you have all the information on its length.

Returning to your question, you can build a scenario in which the zero correlation predictor and on of the others predictor sum is the concept. Multiple regression is very suitable to these problems so you can get perfect prediction. That will be even easier if you'll remove all the rest of the predictors.