diff --git a/requirements/base.txt b/requirements/base.txt
index 587692dd02..cf257c4bdb 100644
--- a/requirements/base.txt
+++ b/requirements/base.txt
@@ -269,7 +269,7 @@ sqlalchemy==1.4.36
     #   flask-sqlalchemy
     #   marshmallow-sqlalchemy
     #   sqlalchemy-utils
-sqlalchemy-utils==0.37.8
+sqlalchemy-utils==0.38.3
     # via
     #   apache-superset
     #   flask-appbuilder
diff --git a/setup.py b/setup.py
index 23a50fa714..e62f8cdfa7 100644
--- a/setup.py
+++ b/setup.py
@@ -116,7 +116,7 @@ setup(
         "simplejson>=3.15.0",
         "slackclient==2.5.0",  # PINNED! slack changes file upload api in the future versions
         "sqlalchemy>=1.4, <2",
-        "sqlalchemy-utils>=0.37.8, <0.38",
+        "sqlalchemy-utils>=0.38.3, <0.39",
         "sqlparse==0.3.0",  # PINNED! see https://github.com/andialbrecht/sqlparse/issues/562
         "tabulate==0.8.9",
         # needed to support Literal (3.8) and TypeGuard (3.10)