diff --git a/CHANGELOG.md b/CHANGELOG.md
index d80a98f67..9a0446987 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -10,6 +10,7 @@
 - Change font family to "Work Sans"
 - Updated eslint to v8 and eslint related packages to their latest versions
 - Updated typescript to v4.6.3
+- Updated react-select to v5.2.2
 - Webpack overlay will now report eslint issues
 - Linted all code according to eslint rules
 - when generating an avoir, the option "by_wallet" is not present anymore if wallet module is off
diff --git a/package.json b/package.json
index d2685dffa..e8b38540a 100644
--- a/package.json
+++ b/package.json
@@ -135,7 +135,7 @@
     "react-hook-form": "^7.25.3",
     "react-i18next": "^11.15.6",
     "react-modal": "^3.11.2",
-    "react-select": "^4.3.1",
+    "react-select": "^5.2.2",
     "react-switch": "^6.0.0",
     "react2angular": "^4.0.6",
     "resolve-url-loader": "^4.0.0",
diff --git a/yarn.lock b/yarn.lock
index 81281bbe4..e6ce5104a 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -1912,6 +1912,13 @@
   dependencies:
     "@types/react" "*"
 
+"@types/react-transition-group@^4.4.0":
+  version "4.4.4"
+  resolved "https://registry.yarnpkg.com/@types/react-transition-group/-/react-transition-group-4.4.4.tgz#acd4cceaa2be6b757db61ed7b432e103242d163e"
+  integrity sha512-7gAPz7anVK5xzbeQW9wFBDg7G++aPLAFY0QaSMOou9rJZpbuI58WAuJrgu+qR92l61grlnCUe7AFX8KGahAgug==
+  dependencies:
+    "@types/react" "*"
+
 "@types/react@*", "@types/react@^17.0.3":
   version "17.0.11"
   resolved "https://registry.yarnpkg.com/@types/react/-/react-17.0.11.tgz#67fcd0ddbf5a0b083a0f94e926c7d63f3b836451"
@@ -5894,7 +5901,7 @@ process@^0.11.10:
   resolved "https://registry.yarnpkg.com/process/-/process-0.11.10.tgz#7332300e840161bda3e69a1d1d91a7d4bc16f182"
   integrity sha1-czIwDoQBYb2j5podHZGn1LwW8YI=
 
-prop-types@^15.5.8, prop-types@^15.6.0, prop-types@^15.6.2, prop-types@^15.7.2:
+prop-types@^15.6.0, prop-types@^15.6.2, prop-types@^15.7.2:
   version "15.7.2"
   resolved "https://registry.yarnpkg.com/prop-types/-/prop-types-15.7.2.tgz#52c41e75b8c87e72b9d9360e0206b99dcbffa6c5"
   integrity sha512-8QQikdH7//R2vurIJSutZ1smHYTcLpRWEOlHnzcWHmBYrOGUysKwSsrC89BCiFj3CbrfJ/nXFdJepOVrY1GCHQ==
@@ -6077,13 +6084,6 @@ react-i18next@^11.15.6:
     html-escaper "^2.0.2"
     html-parse-stringify "^3.0.1"
 
-react-input-autosize@^3.0.0:
-  version "3.0.0"
-  resolved "https://registry.yarnpkg.com/react-input-autosize/-/react-input-autosize-3.0.0.tgz#6b5898c790d4478d69420b55441fcc31d5c50a85"
-  integrity sha512-nL9uS7jEs/zu8sqwFE5MAPx6pPkNAriACQ2rGLlqmKr2sPGtN7TXTyDdQt4lbNXVx7Uzadb40x8qotIuru6Rhg==
-  dependencies:
-    prop-types "^15.5.8"
-
 react-is@^16.13.1, react-is@^16.7.0, react-is@^16.8.1:
   version "16.13.1"
   resolved "https://registry.yarnpkg.com/react-is/-/react-is-16.13.1.tgz#789729a4dc36de2999dc156dd6c1d9c18cea56a4"
@@ -6109,17 +6109,17 @@ react-refresh@^0.11.0:
   resolved "https://registry.yarnpkg.com/react-refresh/-/react-refresh-0.11.0.tgz#77198b944733f0f1f1a90e791de4541f9f074046"
   integrity sha512-F27qZr8uUqwhWZboondsPx8tnC3Ct3SxZA3V5WyEvujRyyNv0VYPhoBg1gZ8/MV5tubQp76Trw8lTv9hzRBa+A==
 
-react-select@^4.3.1:
-  version "4.3.1"
-  resolved "https://registry.yarnpkg.com/react-select/-/react-select-4.3.1.tgz#389fc07c9bc7cf7d3c377b7a05ea18cd7399cb81"
-  integrity sha512-HBBd0dYwkF5aZk1zP81Wx5UsLIIT2lSvAY2JiJo199LjoLHoivjn9//KsmvQMEFGNhe58xyuOITjfxKCcGc62Q==
+react-select@^5.2.2:
+  version "5.2.2"
+  resolved "https://registry.yarnpkg.com/react-select/-/react-select-5.2.2.tgz#3d5edf0a60f1276fd5f29f9f90a305f0a25a5189"
+  integrity sha512-miGS2rT1XbFNjduMZT+V73xbJEeMzVkJOz727F6MeAr2hKE0uUSA8Ff7vD44H32x2PD3SRB6OXTY/L+fTV3z9w==
   dependencies:
     "@babel/runtime" "^7.12.0"
     "@emotion/cache" "^11.4.0"
     "@emotion/react" "^11.1.1"
+    "@types/react-transition-group" "^4.4.0"
     memoize-one "^5.0.0"
     prop-types "^15.6.0"
-    react-input-autosize "^3.0.0"
     react-transition-group "^4.3.0"
 
 react-switch@^6.0.0: