diff --git a/setup.py b/setup.py
index 29f7a8466b..dc0be75cd3 100644
--- a/setup.py
+++ b/setup.py
@@ -103,7 +103,7 @@ def package_files(prefix: str, directory: str, extension: str):
     # Should manually update dependency versions occassionally.
     'custom_inherit==2.4.1',
     'junitparser==3.1.2',
-    'coverage[toml]==7.5.3',
+    'coverage[toml]==7.5.4',
     'fasteners==0.18',  # object store tests require fasteners
     'pytest==7.4.4',
     'ipython==8.11.0',